Mumbai: Swedish furniture retailing giant IKEA announced the purchase of its first land parcel in Mumbai Metropolitan region to build a 4,00,000-sqft store. This will be the second store in the country after Hyderabad. The 23-acre site is strategically located in Navi Mumbai on the Thane-Belapur Road.
The IKEA store in Mumbai is planned to be of around 4,00,000 square feet and is expected to have an over 5 million visitors per year, indicative of the company’s large expansion plans in the country. The company in parallel is evaluating suitable sites in the cities of Bangalore, Mumbai and Delhi and NCR and plans to open 25 stores in India by 2025, it said. “Maharashtra is one of the most important market for IKEA. Along with setting up retail stores, we will expand our supplier landscape and grow local sourcing as much as possible.
