HYDERABAD: Ikea is all set to launch its first store in India, in Hyderabad on Thursday at 10 am. The first global brand to set up shop in India after 100 percent FDI was allowed in single brand retailers, is surely set to change the dynamics of home furnishings market in the country.
Spreading over 13 acres, the 4,00,000 sq ft store located amid Hyderabad's IT hub Hitech City, which also a realty hotspot, will offer more than 7,500 products. The products on offer range from as small as stationery items to kitchen utensils, textiles, to home furnitures.
"India is a very important market for us and we are happy to launch our first store in Hyderabad. While we are very particular about offering the best in quality products for Indian consumers, we have also kept in mind to be keep them affordable. Among the total 7500 products available here, about 1000 products are priced below Rs 200. To ensure that Ikea products are affordable we are also focusing on increasing our local procurement," said Patrik Antoni, deputy country manager, Ikea India, speaking to Express.
Ikea has thrown open its doors to the important persons in the city on Wednesday, a day before its launch on Thursday, as part of pre-launch activity.
While Ikea aims to reach to 200 million people in India, in the next three years, it is expecting more than 25,000 footfalls on the very first day of its launch in Hyderabad. Another attraction at the store is, it also has 1000-seater restaurant.