Ikea opens in India with chance to capture booming middle class

Marco Green
Августа 10, 2018

Store open throughout the week from 10 am to 11 pm.

There are also more than 1,000 products under 200 rupees to satisfy consumers whom John Achillea, store manager, said have "big aspirations for their homes and small wallets".

There was traffic jam situation in front of the huge 4 lakh sft store located in the heart of HITEC City, the hub of information technology.

"People are congregating like it's Black Friday or Boxing Day", said Twitter user Flying Sam. "I have shopped at an IKEA store in Sweden and was curious about how their store in India would look like".

Customers sit at a restaurant inside IKEA's first store in India as it opened in Hyderabad, Thursday, Aug.9, 2018.

IKEA welcomed the first customers at the 400,000-square feet facility with loud cheers from company officials and employees, holding Indian and Swedish flags amid loud band and music.

The opening ceremony in the city of Hyderabad on Thursday was attended by Klas Molin, the Swedish ambassador to India, and K Taraka Rama Rao, the state minister for Telangana. So far, IKEA group, had taken approval to set up 25 stores in India with an outlay of Rs 10,500 crores, and so far invested about Rs 4,500 crores.

The company now revised the number of stores to 40 across all formats.

Swedish home furnishings giant Ikea witnessed huge response from customers yesterday as over 40,000 people visited Ikea's first store in India in Hyderabad on the launch day. The next store is going to open in Navi Mumbai in 2019. In the next phase, IKEA also plans to cover Ahmedabad, Surat, Pune, Chennai and Kolkata. The Swedish meatballs on offer were one of the most relished items while, the dum biryani too was selling out fast. Quality of the products and their pricing is bound to endear them to the customers, she added.

Indian shoppers aren't used to assembling their furniture themselves, so Ikea is offering to deliver items and install them at people's homes, if they live nearby enough.

Inside the store, many shoppers said they were excited to discover that the India store is no different from any other IKEA store, be it in Sweden, US or Singapore.

Located in the heart of HITEC City, the information technology hub, and close to the posh localities, the store appears to be created to target upper middle-class and the rich.

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