IKEA postpones opening of first store to August

IKEA postpones opening of first store to August

Comments Off on IKEA postpones opening of first store to August

For those who were eagerly waiting for the IKEA’s first store in India, there will be slight disappointment. Because world’s leading furniture retailer has decided to hold off opening of its first store in India to August 9 on quality concerns. IKEA Retail India decided to move the date as it needs some more time to live up to its expected quality commitments towards customers and coworkers, the company said in a statement. The company was scheduled to open its first store in India next week on July 19.

According to the company, its main priority is to create an inspiring and safe experience for both customers and coworkers.

“Opening the first Indian IKEA store in Hyderabad means a lot to IKEA and we want to offer the best possible meeting with IKEA for the many Indian customers,” said IKEA Retail India CEO Peter Betzel.

IKEA’s Hyderabad store has come up with an investment of Rs 1,000 crore. This would provide 1,000 direct and 1,500 indirect jobs at the store, and 50 per cent of the employees would be women.

As per the original schedule, IKEA was to open it first store in early 2018 which didn’t happen due to various reasons. IKEA’s first store in Hyderabad will be followed by another store in Navi Mumbai. And the third store will be opened in in Bengaluru which will take place only by mid-2019. IKEA which got FDI approval to set up a retail chain in 2013 has plans to open around 25 stores in India by the end of the year 2025 with an estimated investment of Rs 10,500 crore.