Swedish furniture major IKEA is targeting Indian homes with their newest store which will be launched next month. With an investment of more than Rs 800 crore, the store will be 400,000 square foot of built-up area spread on 13 acres of land in Hyderabad. And to attract customers in the country, the furniture store will be offering local food items. The food menu will include samosas among other local delicacies. According to a report in NDTV, they will not serve beef meatballs so as to not hurt religious sentiments of people in the country. Instead, the food menu will include chicken and veggie balls, biryani, samosas and veg hotdogs.
IKEA India Deputy Country Manager, Patrik Antoni said, "To cater to Hindu sensitivities it will not sell its beef meatballs in the country, but serve chicken and veggie balls instead, while also offering shoppers biryani, samosas and veggie hotdogs." Hyderabad is among few cities in the country where the BJP government did not implement the beef ban.
IKEA has also adopted a specific pricing strategy in the country. Around 1000 products are priced under Rs 200 avoiding the high pricing strategy they introduced in Australia and China. One of their main motives will be to keep the prices low here. Also mobile-based services marketplace UrbanClap may become a furniture assembly service partner for Ikea in Hyderabad.
Talking about the outlet, Jayesh Ranjan, Principal Secretary, IT and Industries, told PTI, "They (Ikea)are likely to open their first store in India in Hyderabad on July 10. Their CEO is expected to inaugurate the outlet. They earmarked Rs 800 crore for the store. This will create many direct and indirect jobs in the state."
IKEA had earlier said that it was going to recruit about 800 people for the store. As per the Swedish brand's plans, after the Hyderabad store, the second store will open in Mumbai in 2019. Bengaluru and Delhi NCR may also get their own IKEA stores. Currently, they have a distribution point in Pune. Initially, the company had earmarked Rs 10,500 crore to open about 25 stores in the country by 2025.
PTI quoted Antoni as saying, "As we get closer to the first IKEA India store opening, we are working to create a convenient and affordable service offer for Indian customers. DIY or Do it yourself is still a new concept in India and we will invest heavily to provide affordable and quality services."
(The above story first appeared on LatestLY on Jun 12, 2018 05:09 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).