If you’ve not been living under a rock, you know what IKEA is and where India’s first store just opened up. And for those of you living under the rock, IKEA – the Swedish-founded multinational group that designs and sells ready-to-assemble furniture, just opened its first Indian store in Hyderabad. People have been flying from all over the country to see what the big deal is all about and the store hasn’t disappointed. But what if we tell you that you don’t have to fly all the way to Hyderabad to experience it.
The next target for the Swedish giant seems to be Noida! You read that right. Scouting for land for the store in Noida, the company has informed the government that it is proposing to invest more than Rs 5000 crore in the state in the coming years through retail outlets and e-commerce.
IKEA had signed a MoU with the government in 2015 to set up a store each in Lucknow, Agra and Noida with an investment of approximately 500 Crores each. But since the company has entered the market, they have analysed the current situation and are focused on setting up an outlet in Noida only.
Describing its long-term intent for UP, IKEA officials say that the company is looking to develop retail and commercial arks that will comprise shopping centres, offices and integrated commercial projects.
So in short, there will soon be an IKEA store in Noida. The dates aren’t out and the year is also unclear, but we know there is hope at the end of the tunnel.
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