US-based Apple Inc would start selling devices online in India within a few months. This will be ahead of the launch of its first retail outlet in the country.
Relaxing local sourcing norms will encourage more retailers, while local producers will be forced to be competitive in the global marketplace of sourcing
After a little more than a decade, IKEA has probably understood one thing about India – it needs to be flexible to do business in a nation with 1.3-billion population.
The Swedish company has revealed its plans to explore the sector, for which dedicated business units will be set up
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Mumbai will see a multichannel offer including smaller format stores, and a big format store in Navi Mumbai, it said in a statement.
Ikea had earlier said it invested over Rs 800 crore in the Hyderabad outlet, which includes an in-house 1000-seater restaurant.
The Swedish furniture giant has plans for 25 such sites by 2025 and the first such store will begin operations in Mumbai by 2020
Things really didn’t work out with mandatory local sourcing of retail products. That possibly might force a government rethink for multi-brand retailing
After a euphoria of the initial four-five years, the investors can be seen getting wary of the segment or atleast they've holed up themselves into a wait and watch mode.
Ikea Belgium came up with this plan to prevent people from buying their limited edition rugs just to resell them at a higher price later.
Ingka Group is a strategic partner in the IKEA franchise system, representing 90 percent of total IKEA retail sales.
Last year, the company opened its first store in Hyderabad, spread over 13 acres of land and has a built up area of 4 lakh sq ft.
The investment would create over 8,000 direct and indirect job opportunities in the state, said Ikea in a statement.
There has been a change in the overall format for Ikea’s maiden journey in India. The brand, which is known for its DIY (do it yourself) format, has people sent over to assemble furniture
Also, IKEA said it is on track to invest 1.5 billion euros in India and aims to be present in many cities in the country in the coming years.
Swedish home furnishing major Ikea opened its first store in the country in Hyderabad on August 9.
The company opened its first store in Hyderabad in August this year and the Navi Mumbai will be the second store in the country.
Betzel, who attended the ground-breaking ceremony of Ikea's third India store, said the company already had an online platform and was now in the process of connecting different platforms to maximise business prospects.
Ikea is planning to invest nearly Rs 3,000 crore in the next three years to open three fulfillment centres (packing warehouses) in Mumbai, Bengaluru and Delhi
IKEA is set to open its second store in Mumbai later this year, and would hold a ground-breaking ceremony on October 11 in Bengaluru
In 2013, Ikea received government approval for a Rs 10,500 crore investment to build a supply chain infrastructure and open 25 stores across the country by 2025, one of the largest investment approvals for brick-and-mortar retailing in India.
In an embarrassment for the recently opened IKEA store, a man allegedly found the worm in the vegetable biryani served to him.
The civic body also imposed a fine of Rs 11,500 on the IKEA store for allegedly flouting norms related to dry and wet waste segregation and use of plastic covers.
Mitra, addressing the concluding session of a two-day MSME conclave, said IKEA has decided to source Rs 2,000 crore worth bamboo and natural fibre from India.