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IKEA to start work on Mumbai store in May
25-Apr-2017

Swedish furniture behemoth IKEA is going aggressive on its retail rollout, with the company announcing that it will soon start work on its second store, set to come up in Maharashtra.Company officials also said IKEA will be launching its first distribution centre in Pune besides doubling local sourcing to €600 million, from the current €318 million. “We will be undertaking the ground breaking ceremony on May 18. IKEA will focus on omni-channel retailing in markets like Mumbai. The Mumbai store will have an area of 4,30,000 sq ft and will entail an investment of RS.700 crore,” Patrik Antoni, Deputy Country Manager, IKEA India, told BusinessLine. Last year, IKEA had acquired a 23-acre land parcel in Turbhe, Navi Mumbai, for its second store from Tata-owned Rallis India for approximately Rs.214 croreIKEA is also in the process of scaling up its online business in many countries, including India. Additionally, it is scouting for property in Mumbai for launching ‘Hej Homes’, which may also act as its omni-channel retail format.

News Source:- http://www.thehindubusinessline.com/companies/ikea-to-start-work-on-mumbai-store-in-may/article9660471.ece