IKEA acquires land for store in Navi Mumbai

0

Swedish home furnishing major IKEA, has announced the purchase of 23 acres near Mumbai where it would set up a four lakh-sq ft store to show case its range of products to an estimated 50 lakh visitors a year.

The site is located in Navi Mumbai on the Thane-Belapur Road and will be easily accessible, the company said. This is the company’s second buy in India after Hyderabad. Ikea is currently evaluating suitable sites in Bangalore, Mumbai and Delhi & NCR and plans to open 25 stores in India by 2025.

Principle Secretary (Industry) Apurva Chandra said, “We are very happy that we will soon see an IKEA store in Mumbai. IKEA will bring best business practices, many employment opportunities, infrastructure development and contribute to the growth of the retail sector in the state.”

Juvencio Maeztu, CEO, IKEA India, said, “Maharashtra is one of the most important markets for IKEA. Along with setting up retail stores, we will expand our supplier landscape and grow local sourcing as much as possible.” He said each IKEA store will employ 500 to 700 workers directly and another 1,500 indirectly, engaged in providing services.

“We are committed to having 50 per cent women in our organisation at all levels and giving equal opportunities to all. We will bring a unique shopping experience through our inspiring stores offering affordable home furnishing products for the many people in Mumbai,” he added.