Ikea India plans Hyderabad launch next year

Ikea India has decided on an April launch for its first store, in Hyderabad.

It will be followed by outlets in Mumbai, Bengaluru and Delhi, says deputy country manager Patrik Antoni.

The Swedish furniture retailer will invest Rs 1000 crore (US$146 million) in the 13-acre (5.2ha) Hyderabad property at the city’s IT hub near Gachibowli.

It is planning to open 25 stores over next 10 years in India, and also plans to double its sourcing from India to €600 million (US$714.3 million) by 2020.

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