On Thursday Aug 9, Hyderabad will get India’s first IKEA store. There has been much talk about IKEA coming to India for a long time now. First announced as opening in Gurugram, later we heard Bangalore being sounded and now finally it is Hyderabad. The earlier date announced for opening the store was July 10. Then it was postponed to July 25 and now finally all is set for Aug 9. IKEA has had many road blocks along the way, primarily with regard to high import duties. They seem to have solved the problem areas and are ready for a grand opening of their first store in India.
Swedish firm IKEA is popular for its sleek, convenient and reasonably priced furniture which can be assembled at home. Their target client is the middle class which is brand conscious and also looks for value in money.
The Swedish furniture retailer is looking to push its boundaries in South America and Asia even as its traditional markets as in Europe have experienced a slow down. Its forays into Australia and China were initially bumpy and were attributed to high pricing. They will not be committing the same mistake here. It is understood that almost 30% of the raw materials will be sourced locally as per Indian regulations which will help to make it cost effective.
The 37,160 square metre store will have more than 7500 items and 1000 of them will cost less than 200 rupees. Besides furniture, it will also have on sale stuffed toys, container boxes, cutlery, etc.