IKEA’s First Range of Stores to Open in India by 2017

IKEA, the easy-to-make furniture store, will be opening it’s first range of stores in India by 2017.

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IKEA is known for its ready-to-assemble furniture.

Swedish ready-to-assemble furniture retail giant IKEA has started hiring in India as it gears up to open its first range of stores in the country by 2017.

The company has earmarked Rs 10,500 crore investment for the country to open 25 stores over a decade and has already acquired land in Hyderabad where it is most likely to open its first store.

We have started (hiring) but of course there are few positions. We are preparing everything and in the next few months we will expand and we will have to do more employment.
— Juvencio Maeztu, IKEA India CEO

Speaking at the Economist India Summit, Maeztu stated that there are likely to be more than 2,000 employees, including out-of-the store employees like delivery boys.

Likely it (Hyderabad) can be our first store (but) we are moving in parallel in Karnataka, Maharashtra and Delhi NCR. We are moving parallel in these four (areas).
— Juvencio Maeztu, IKEA India CEO

The company will invest about Rs 500 crore per store and requires about 12 acre land for a store.

Having 20 of IKEA’s key Central European suppliers in a room discussing the big possibilities that India offers was fantastic. The average time these suppliers have worked with IKEA was more than 10 years. That’s a lot of knowledge and experience.
— Sandeep Sanan, IKEA India Head (New Business)

(With inputs from PTI)

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