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Ikea To Open In Mumbai

MUMBAI, INDIA: The world’s largest furniture retailer, IKEA said that it bought land in India’s financial capital Mumbai to build a 400,00 square foot(37,000 square meter) store as part of plan to expand to 25 stores in India by 2025.

According to Reuters, the company expects the IKEA store in Mumbai to receive more than 5 million visitors a year. This will be the second retail store in India for the Swedish firm after the one in the southern town of Hyderabad next year.

IKEA is also scouting for land in Bengaluru, Delhi and the NCR region around the capitol to set up stores, reported Business Times. In a statement by IKEA, the company has been sourcing from India for three decades and will plan to add suppliers and increase its sourcing volumes by 2020. Each IKEA store in India would employ 500 to 700 workers directly and 1500 indirectly.