What Will Be the IKEA Furniture Cost in India? To Open First Store in Hyderabad
Reportedly, Ikea also plans to make big in the digital space to compete with players like Pepper Fry and Urban Ladder.
Hyderabad, June 4: Indian furniture market is all set to become interesting with the entry of Swedish furniture giant Ikea. It will open its first store in India in Hyderabad this July, and according to a Hindustan Times report, the furniture maker will sell 15 percent of its products for under Rs 200. IKEA India’s Maharashtra market manager Per Hornell as quoted in the report says, "We are very confident that we will enter the market with the lowest possible prices. There will be 1,000 products at prices below Rs 200 when we open our store."
The second India store is expected to be in Mumbai, and it is sometime in mid-2019, however it is in no hurry. Reportedly, Ikea also plans to make big in the digital space to compete with players like Pepper Fry and Urban Ladder. IKEA Offers Low-Priced Household Products At Hyderabad Store in India: 5 Cheapest Products You Can Buy at Rs 99
According to a report on DNA, IKEA has said that it is looking for land in Ahmedabad and Surat to open stores, and has also signed a Memorandum of Understanding (MoU) with the Gujarat government for them. IKEA is trying to get Indians to assemble its signature do-it-yourself (DIY) furniture. Since the concept is lesser known, the retailer has tied-up with local startup Urban Clap to help shoppers put together its furniture.
(The above story first appeared on LatestLY on Jun 04, 2018 12:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).