{"id":75241,"date":"2018-02-21T10:50:11","date_gmt":"2018-02-21T10:50:11","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/ikea-opens-first-store-india-middle-2018\/"},"modified":"2025-09-19T08:47:33","modified_gmt":"2025-09-19T08:47:33","slug":"ikea-opens-first-store-india-middle-2018","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/ikea-opens-first-store-india-middle-2018\/","title":{"rendered":"IKEA opens first store in India at the middle of 2018"},"content":{"rendered":"<div class=\"article-content\">\n<p><em>IKEA has invested nearly Rs 1,000 crore during the last 2 years in the creation of\u00a0infrastructure, including land and distribution centres in India, preceding the opening of their first store in the area in 2018.<\/em><\/p>\n<p>The investment is nearly 10% of its Rs 10,500-crore investment proposal that was cleared by the Foreign Investment Promotion Board to open 25 stores \u2014 each large enough to fit about four football fields \u2014 in the country by 2025, according to The Economic Times of India.<\/p>\n<p>The largest furniture retailer in the world has spent\u00a0Rs 984 crore so far in the construction of fixed assets, during the last 2 years until March 2017. Also, the company\u00a0incurred a net loss of Rs 303 crore since its entry 3 years ago, that includes staff cost and training expense.<\/p>\n<p>\u201c<em>So far, we have invested in four land sites \u2014 Hyderabad, Mumbai, Bengaluru and Gurugram \u2014 and also looking at sites in other cities. We will focus on physical stores, complemented by a multichannel approach to create many offline and online touch points for customers. Ecommerce in India will be rolled out in 2019,<\/em>\u201d said Patrik Antoni, deputy country manager, IKEA India.<\/p>\n<p>As The Economic Times of India reported, last week, the company opened a distribution centre in Pune, Maharashtra, to service its first Indian store scheduled to be opened in Hyderabad by the middle of the year, followed by the second store in Mumbai in 2019. Moreover, IKEA\u00a0raised Rs 1,370 crore through debenture allotment to its parent company, as per the filing. IKEA started sourcing from India more than three decades ago and has more than three dozen suppliers that accounts for nearly 3% of its global products sourcing.<\/p>\n<p>\u201c<em>We have our first distribution centre open in Pune now that will serve the IKEA stores in the country, and will invest close to Rs 750 crore in the future to develop more capacity,<\/em>\u201d said Antoni.<\/p>\n<p>IKEA hopes that, by 2025, to open 3\u00a0distribution centers which would\u00a0employ 50,000 people in India, sourcing\u00a030% of IKEA India\u2019s requirements from within the country.<\/p>\n<p>Rising demand for high-ticket items that offer big margins is driving foreign interest towards India\u2019s furniture industry. But IKEA has built its fortunes globally by selling ready-to-assemble products, a concept that is still alien to Indian consumers.<\/p>\n<p>Over three years ago, Japanese housing and building materials trading firm Sumitomo Forestry bought a 26% stake in Indian modular furniture manufacturer Spacewood for about $14 million (Rs 91 crore), that made it the first foreign direct investment in an existing furniture business venture in the country.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>IKEA has invested nearly Rs 1,000 crore during the last 2 years in the creation of\u00a0infrastructure, including land and distribution centres in India, preceding the opening of their first store in the area in 2018. The investment is nearly 10% &hellip; <a href=\"https:\/\/www.timberindustrynews.com\/ro\/ikea-opens-first-store-india-middle-2018\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":59216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713],"tags":[3301,3312,3411],"class_list":["post-75241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","tag-furniture","tag-ikea","tag-india","topic-wood-furniture","area-asia-middle-east","area-europe"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IKEA opens first store in India at the middle of 2018<\/title>\n<meta name=\"description\" content=\"IKEA has invested nearly Rs 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