Ikea opens its first store in India

Last Updated: Aug 09 2018 15:32
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BUSINESS- Swedish furniture giant Ikea on Thursday opened its first ever store in India in the southern city of Hyderabad.

The 13-acre campus is located in HITEC city which is also home to global firms such as Microsoft, Google and Facebook.

Ikea’s global chief executive Jesper Brodin said: "The market of India for us is a dream.

"But to be honest, some years ago, when we looked into the business case of India, we felt it was too high risk from the cost perspective [of] not meeting our targets."

To adapt to Indian market, Ikea has made several changes in its traditional set-up.

Ikea customers over the world are used to its Do It Yourself (DIY) models but since cheap labour is available in India, so the company has signed up with companies, experts, and a social entrepreneurship network with people that will be able to get great jobs in serving customers with assembling.