by Apparel Resources News-Desk
03-November-2017 | 1 min read
Swedish furniture giant IKEA has announced to set up five to six stores in the Delhi-NCR region in the coming years. These stores will be a part of the Rs. 10,500 crores investment by IKEA in India to open 25 outlets in by 2025.
The furniture retailer recently locked a 10-acre land deal for Rs. 842 crores with Haryana Urban Development Authority (HUDA) in Gurugram where it’ll open one of its outlets.
The store will be IKEA’s first in the Delhi-NCR region and fourth in India after Hyderabad, Mumbai and Bengaluru. The under consideration store in Gurugram is expected to be spread over an area of around 4 lakh sq. ft. At least 9,500 articles will be offered at this store.
Juvencio Maeztu, Chief Executive Officer of IKEA India thanked the Haryana Government and officials for their support.
IKEA considers Delhi-NCR as a highly strategic and important market for its products. The retailer also aims to develop local artisans and communities by sourcing their services in various projects.
The retailer’s maiden store in (Hyderabad) India will be thrown open to the public in February next year.