IKEA to open smaller stores in Major cities, says India CEO Peter Betzel
Retail

IKEA to open smaller stores in Major cities, says India CEO Peter Betzel

IKEA India- Next-big-brand
Pritish raj
Written by Pritish raj
[email protected] | Noida | Published on: August-09-2019 06:03 PM
  • After the inauguration the store in Hyderabad last year, the number of visitors have gone up to 1,00,000 per week. The store has about 7,500 products, of which about 1,000 are under the price range of Rs. 200.
  • IKEA in India began operations last year only from Hyderabad. IKEA targets to meet 100 million customers in the coming future.

World leader in the furniture retail sector, Swedish Company IKEA is planning to open smaller stores in major cities, so that customers can reduce travel time to reach the bigger outlets.

Chief Operation Officer (CEO) of IKEA India, Peter Betzel said that it is important to be closer to where customers live and the company is aiming to have more formats which will include an e-commerce platform.

“Five years ago we talked about 25 stores, now we are talking about many more meeting places in different formats in cities. We are looking at that all over the world. It is very important to be closer to where people are living,” stated Betzel after celebrating the first anniversary of IKEA’s Hyderabad store.

IKEA in India began operations last year only from Hyderabad. IKEA targets to meet 100 million customers in the coming future.

In the upcoming months, IKEA plans to launch its e-commerce operations in Hyderabad and also in other metropolitan cities such as Delhi and Mumbai where it will be opening new stores.

There will be limited products in the smaller outlets of IKEA. Aurelie Raimon, store manager of the Hyderabad outlet said that about 4 million customers visited the place over the last one year.

After the inauguration the store in Hyderabad last year, the number of visitors have gone up to 1,00,000 per week. The store has about 7,500 products, of which about 1,000 are under the price range of Rs. 200.

Ikea Hyderabad- next Big brand

Inside the first IKEA store in India.
Source- MoneyControl

An IKEA press release on Friday said that the most loved product categories are beds, mattresses, bathroom decoration and dining among regular customers.

The store in Hyderabad is 400,000 square feet is among the 25 outlets which it will open by 2025. The release also mentioned that more than 3,50,000 people have signed up for the IKEA family membership. The company in Hyderabad houses 41 percent of women employees.

IKEA  is a Sweden based multinational company which designs and sells ready to assemble furniture, home accessories and kitchen appliances among other useful goods and occasionally home services. It has been the world’s largest furniture retailer since 2008. It was founded in 1943 by a 17-year-old carpenter Ingvar Kamprad who was listed by Forbes in 2015 as one of the ten richest people in the world worth more than $40 billion.

According to the recent stats of June 2019, IKEA has 423 stores operating in 52 countries. In the year 2018, $44.6 billion worth of IKEA goods were sold. The IKEA website contains about 12,000 products and is the closest representation of the entire IKEA range. The company is responsible for approximately 1% of world commercial-product wood consumption, making it one of the largest users of wood in the retail sector.

About the author

Pritish raj

Pritish raj

Born and brought up in Bihar.
An engineer by education, the content creator, photographer and writer by profession and traveler and poet by passion.

Give me chaos, I'll create masterpiece :)

9113327413 | A-73, Hackerspace, Noida sector- 2 Noida UP 201301

Leave a Comment