IKEA has hired 150 employees for assembling products for its Hyderabad store
When contacted, a company spokesperson, without mentioning a date, said the outlet would be opened next month.
Currently, 60 percent of the IKEA range is based on renewable materials, while nearly 10 percent contain recycled materials
IKEA operates on a do-it-yourself model, where users assemble their own furniture. In India, however, IKEA is customising for the market and is building assistance for furniture assembly
IKEA, which received government approval in 2013 for its Rs 10,500-crore proposal to open retail stores under 100 per cent FDI, has earlier signed MoUs with Karnataka, Telangana, Maharashtra, Uttar Pradesh and Haryana to open retail stores.
Take a look at where some of the world's most recognised brands originate from.
India is marked as one of IKEA's most important growth markets and the company has committed large investments to India, it said. Betzel had also earlier served as the Country Manager of IKEA Spain, and is known for his leadership skills and ability to drive growth in diverse markets, the company said.
The company will unveil its Navi Mumbai store in 2019.
The distribution centre has been set up to service its first store scheduled to be opened in Hyderabad by the middle of the year, followed by the second store in Mumbai in 2019.
Despite his wealth, Kamprad prided himself on being frugal, driving an old car and encouraging staff to write on both sides of a sheet of paper to avoid waste
The Haryana Urban Development Authority (HUDA) today said it sold approximately 10-acre plot to Swedish furniture maker IKEA for around Rs 842 crore in its single largest property auction till date.
Snowman will be the exclusive partner and extend support at pan-India level, as Ikea opens stores in various cities, a statement said.
Apple along with the launch of the new iPhones also dropped its much-awaited ARKit tech, and the global furniture giant is making good use of it
The Navi Mumbai store, on which construction had started in May this year, was earlier expected to open in January 2019 with an investment of around Rs 1,000 crore.
IKEA has reiterated that it will be opening its first store in Hyderabad by early 2018. The second store will come up by early 2018 in Navi Mumbai and the third store will be opened in Bengaluru by mid-2019.
The restaurant business in 2016 sold about $1.8 billion food, globally.
Swedish furniture retailer Ikea has acquired land in Bengaluru from the Bangalore Metro Rail Corporation for an undisclosed sum as part of its plans to start retail operations in India.
Aggressive opening of stores across the country is just the tip of Swedish furnishing giant, IKEA's India strategy. CNBC-TV18's Priya Sheth reported that the key component of IKEA's strategy is to stock items and brands that strike a chord with Indian customers and culture.
The store's ground-breaking ceremony took place at Turbhe in Navi Mumbai today in the presence of Maharashtra Chief Minister Devendra Fadnavis.
"Maharashtra will be one of the key markets for us, and we have plans to open 5-6 stores across the state, going forward," Patrik Antoni, deputy country manager for Ikea India, told PTI here at the headquarters of the world's largest furniture retailer.
"The IKEA Foundation's commitment of euro 2.9 million will enable the girls to not only pursue and complete their education, but also help them become confident young individuals who become financially independent members of society," IKEA Foundation said in a statement.
Global home furnishing retailer Ikea today conducted a multi stakeholder workshop in the city to co-create its Maharashtra strategy.
The company's wholly-owned subsidiary will invest Rs 325 crore to expand its quartz surfaces production output by 130 percent
The grant of 5.3 million euros from the IKEA Foundation will help poor families in India and Kenya to improve homes through access to small loans and affordable, eco-friendly building materials and services, a statement said.
The company, which follows September-August calender, said its expansion plans to open first stores in India and Serbia are on track.