Swedish furniture retailer IKEA is set to expand its presence in India, with plans to open a store in Pune and strengthen its online operations across Maharashtra, reported Business Standard.
The company, which inaugurated its first store in India in Hyderabad in August 2018, is investing approximately ₹7,000 crore to establish its footprint in the National Capital Region (NCR) with two stores in Gurugram and Noida, expected to launch by 2025.
"Beyond the NCR, Pune and Chennai are areas of interest for us. Kolkata is also on our radar, but we will adopt a step-by-step approach," said the company's India CEO, Susanne Pulverer, in an interview with PTI earlier this month.
In another development, IKEA announced its decision to close its store in Mumbai’s R City Mall by mid-year and explore omnichannel formats in the city.
"This strategic decision aligns with our vision of creating a leaner and faster retail business in the country and is based on insights gained from customer experience. It enables us to consolidate our Mumbai operations to Ikea Worli, Ikea Navi Mumbai, and our online platform, while we look into new avenues for future growth," stated the press release.
Despite its 72,000 sqft size, the Mumbai store reportedly faced challenges in offering customers the complete Ikea experience due to constraints in layout, design, and location.
Currently, Ikea India operates three large-format stores in Hyderabad, Navi Mumbai, and Bengaluru, along with two city stores in Mumbai.
