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| 2 minutes read

2 minutes read

IKEA Plans To Launch 3 New Stores In India With An Investment Of Rs 3000 Crore

| Published on October 6, 2018

Swedish furniture brand IKEA is not going to stop after opening its first store in India. The company has a plan of investing Rs 3000 crores in the coming three years to set up 3 new centers in the country in Mumbai, Bengaluru and Delhi.

Hyderabad’s store had seen a record-breaking opening sales on the very first day itself. This shows the curiosity of Indians for the brand. IKEA is hoping for a similar response from for its upcoming stores too.

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Also Read: IKEA Makes History With Earning A Huge Amount On The First Day In India

IKEA is looking to follow the omnichannel approach to gain the audience of Indian customers. Patrik Antony, deputy country manager of IKEA India has revealed about this.

IKEA is set to open its second store in Mumbai later this year, and would hold a ground-breaking ceremony on October 11 in Bengaluru, he said. The next store would be in Delhi and by 2025, there would be over 25 stores across cities such as Ahmedabad, Surat, Pune, Chennai and Kolkata with both online and offline approaches, he added.

IKEA seems to be pretty aggressive about its marketing in India. The furniture maker is known for using creative advertising strategies to attract customers. IKEA knows the fact that capturing India will not be easy by only offering products online. Still, a large section of country’s customers prefer shopping online and it would be risky to put all the money in one segment.

Other brands are also following a similar approach: Myntra is opening physical stores in the country and popular startup Nykaa has also picked the same strategy to win the Indian market. Slowly but eventually companies are clicking the right way to make profits in India.

What are your thoughts on this? Do let us know in the comments.

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