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IKEA to invest ₹3000 crore to overtake Amazon & Flipkart in India

Ever since IKEA stamped its authority in India, thousands of shoppers turned up to visit the Mall on the first day of its launch in Hyderabad which saw a record-breaking opening sales. Swedish retail giant IKEA has perfected the art of capturing people’s attention with creative marketing strategies.

It is well aware of the fact that online retailers such as Amazon.com, Flipkart.com and made.com are more in demand. In a bid to survive in the competitive world, IKEA decided to make this move. Ikea believes that this move will certainly help them garner good sales in the years to come.

Credits: Fortune

After Hyderabad, IKEA is looking for a positive response from other cities as well. IKEA planned to launch 3 more stores, setting high standards and investing Rs 3000 crores in the coming three years to set up 3 new centres in the country in Mumbai, Bengaluru and New Delhi respectively.

IKEA is geared up to launch its second store in Mumbai later this year. The next store would be in the national capital and by 2025, there would be over 25 stores across cities such as Ahmedabad, Surat, Pune, Chennai and Kolkata with both online and offline stores.

Ikea, the world’s biggest furniture retailer has already invested more than 1,000 crores to set its first foot in India. The 13-acre complex in Hitec City, located on the outskirts of Hyderabad, is constructed on an area of 400,000-square-foot and comprises over 7,500 products. It is likely to greet over 60 lakh visitors in a year and will be bringing inexpensive Nordic-inspired trending design furnishings and food to India.

Written by Chaithanya G

Hailing from Chennai, Chaithanya G is the Managing Director of TheYouth. He has dedicated his whole life to reading and writing.

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