If you're tired of making the trip to Singapore or Hyderabad to pick up the cherished IKEA accessories and furniture, it's time you heave a sigh of relief. The Swedish furniture brand is finally ready to enter the Mumbai market and service patrons who swear by the brand.
Indian Touch-Down
The global furnishings brand entered the Indian market in 2018 and since then, it has been a one-stop destination for all those obsessed with good design. Their 4,00,000-square-feet Hyderabad Hitech City store houses around 7,500 products. The space also has 1,000 seat cafeteria that serves a mix of local and Swedish cuisines. It has been reported that IKEA has invested more than ₹ 1,000 crore in their Hyderabad flagship (including land, construction, and capital goods).
Online Offerings
Last week, the design Goliath opened its online market to the Mumbai audience. Their digital store is offering 1,000 products, including decor accessories, storage boxes, trays and even doormats. This store in fact, is part of their new multichannel approach to reach 100 million customers in the next three years. What's better‚ there are already products on discounts including wardrobes, drawers, bed sheets, mattresses and sofas.
Reality and Realty
While IKEA is known the world over for its massive stores, the Mumbai realty market has its fair share of issues, the biggest being location and price. The brand is soon going to approach the city, and engage with a popular suburban mall for a lease of five years. It is said that the lease will be open for extension by another five years, taking it to total 10 years. The definitive documents are likely to be executed subject to fulfilment of certain terms and conditions as agreed between the parties.
IKEA's Path to Sustainability
The brand invited Architectural Digest India to its birthplace—Almhult, Sweden, recently. At their yearly global press event, Democratic Design Days, we were given a behind-the-scenes preview of their product development. With a strong direction towards sustainable manufacturing, product development and promotion of renewable energy sources, IKEA showcased a wide range of offerings for the home. These are aimed at promoting a better way of living.
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