Hyderabad, June 11, 2018: Swedish furniture major IKEA is likely to inaugurate its first Indian store here on July 10, a senior official of the Telangana government said.
“They (Ikea) are likely to open their first store in India in Hyderabad on July 10. Their CEO is expected to inaugurate the outlet.They earmarked ₹ 800 crore for the store.This will create many direct and indirect jobs in the State,” Jayesh Ranjan, Principal Secretary, IT and Industries, told PTI.When contacted, a company spokesperson, without mentioning a date, said the outlet would be opened next month.
“The first IKEA India store is opening in Hitec city, Hyderabad in July 2018. We will be able to confirm the exact date very soon,” the official said in an email reply.
The investment in store is more than ₹ 800 crore, including land, construction and capital goods, among others.
The store will be 400,000 square foot of built up area on 13 acres, the IKEA official further said.
The Swedish company had earlier said it was going to recruit about 800 people for the store, including 120 for the 1,000-seater restaurant coming up along with the outlet here.
“(as on) Today we have recruited 400 workers, of which 50 per cent are women. The store will have a range of 7,500 products,” the official said.