Swedish furniture retailer IKEA is on the final stage of setting up stores in India and has completed the land acquisition process for its foray into national capital Delhi. The group plans to open 5 to 6 stores over the next few years.After Hyderabad, Mumbai and Bengaluru this is the fourth city where the furniture major has bought land and the company has said that the Delhi NCR region is a very important market for the company.Ikea is expected to open three flagship stores in India next year, one in Hyderabad, one in Mumbai, and one in Bengaluru. It has set a target of 25 stores by 2025 for the Indian market.Ikea will also introduce a new line of products at all its stores that have designed specifically for the Indian market after conducting 800 home visits over the last two years.
IKEA’s entry into the country is expected to give major lift to the retail sector in country by creating jobs apart from contributing to the exchequer. The company’s entry is also likely to benefit local farmers and suppliers who will help the firm meet its raw material requirements such as wood, jute, banana fibre, cotton, and bamboo.