Home furnishings retailer IKEA India, which recently opened its store in Navi Mumbai, plans to expand its store network by opening two smaller format stores in Mumbai and focusing on the Delhi, NCR and Bengaluru markets. IKEA has purchased a 14-acre land parcel in Bengaluru to construct its third store in the city. It also has a land parcel in Gurgaon.
IKEA also plans to expand its online operations in India. It has earmarked about Rs 6,000 crore investments in Maharashtra in the next ten years. IKEA India first opened its online channel in Mumbai before opening its store in the country's financial capital. Since the home furnishings retailer entered India, it has brought in investment close to Rs 10,500 crore. A part of Ingka Group, IKEA India opened its first retail store in Hyderabad in August 2018, followed by online stores in Mumbai, Hyderabad and Pune.
