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IKEA buys its first plot of land in Delhi/NCR in Haryana

Plans to open 5-6 stores in the region in coming years

IKEA sees Delhi NCR as a big retail destination – first location secured in Gurugram (previously known as Gurgaon). Planning a 4 lakh sq. ft. IKEA store, 1000 parking lots, children’s play area and a 1000 seater restaurant offering Indian and Swedish delicacies

IKEA will facilitate job creation - 800 direct coworkers, out of which 50% will be women and 1500 indirectly employed for services in each store

November 2, 2017: IKEA, the Swedish home furnishings company today announced the purchase of its first land parcel in Gurugram, Haryana and its fourth one in India after Hyderabad, Mumbai and Bengaluru. IKEA has ambitious plans to open 5-6 stores in Delhi NCR over the coming years. Its first Indian store is set to open in Hyderabad early next year, followed by Mumbai in early 2019 and subsequently in Bangalore and Gurugram.

The 10 acres land site is purchased from Haryana Urban Development Authority (HUDA) and is strategically located in Sector 47, Gurugram. The 4 lakh sq. store will offer 9500 articles and will be full of home furnishing inspirations and great solutions for the home.

Chief Administrator, HUDA, Mr. J Ganesan said, “This is a very significant development and Gurugram will see a great push in the retail sector with IKEA’s entry into the State. IKEA store will put the city on global market place as a business and investor friendly destination.”

Principal Secretary, Industries, Haryana, Mr. Sudhir Rajpal commented, “We welcome IKEA and commit to give our best support to facilitate a smooth expansion process. What the region will really benefit from besides having access to beautiful home furnishing products is the fact that IKEA will bring best business practices, many employment opportunities, infrastructure development and contribute to the growth of the state economy.”

Chief Executive Officer, IKEA India, Juvencio Maeztu said, “Delhi NCR is a highly strategic and important market for IKEA and will be one of our biggest markets in India. Along with retail stores, we will also focus on growing local sourcing and engage with local artisans and communities in many projects. We thank the Haryana government and officials who have been very progressive and supportive. IKEA promises to bring a unique global shopping experience through our inspiring stores offering good quality affordable home furnishing products for the many people.”

This step is yet another confirmation of IKEA’s large expansion plans in India. The company in parallel is evaluating more suitable sites in the cities of Bangalore, Mumbai, Delhi & NCR and Chennai and plans to open 25 stores in India by 2025. To be able to invite the many Indians IKEA strives to offer products and solutions to the best possible value for money. To succeed IKEA is committed to grow the Indian manufacturing landscape to maximize local sourcing from India and exploring sustainable indigenous materials such as bamboo, jute and wood that will add to the global IKEA product range. One of its most important commitment is to engage in community led initiatives that will mirror its sustainability agenda as an integral part of business, especially in India.

About IKEA

The IKEA vision is to create a better everyday life for the many people and we offer well designed, functional and affordable, high quality home furnishing, produced with care for people and the environment. There are currently 403 IKEA stores in 49 countries with a sales volume of 38.3 billion euros. 783 million customers visited IKEA stores in FY17 and more than 2.3 billion people visited IKEA online. Our 194,000 co-workers from all over the world are the inner strength of IKEA, sharing fundamental humanistic values of togetherness, humbleness, simplicity, cost-consciousness and common sense.

IKEA has been sourcing from India for over 30 years for its global stores. In India, it currently has 50 suppliers with 45,000 direct employees and 400,000 people in the extended supply chain. The IKEA Group is the first major single brand retailer to get FDI approval and plans to open several stores across the main metro cities in India.

Media Contact:
Naina Sharma: 9810101579
naina@perfectrelations.com