Hyderabad IKEA to have breakeven soon

August 29, 2023 21:00
Hyderabad IKEA to have breakeven soon

(Image source from: Twitter.com/IKEAIndia)

Hyderabad IKEA to have breakeven soon:- IKEA Hyderabad store is the first Swedish furniture store in the country opened in 2018. The first store of Ikea is going to see the operational break even in a year or so according to the revenue details of the company. The furniture store saw nearly 3 million footfall in the last 12 months, while it had 2.9 million the year before.

IKEA's chief executive of India, Susanne Pulvere expressed her happiness and thanked India for giving the opportunity to fulfil the needs of consumers. She also said that Ikea is going to develop its offerings throughout the globe. IKEA is also considering changing the formats of the store in terms of size.

IKEA has planned for an investment of Rs 10,500 Cr into the Indian market and with the establishment of Noida and Gurugram stores completion, the total investment of IKEA in India will be exhausted.

Besides this IT and industries principal secretary Jayesh Ranjan was the chief guest for the Hyderabad event and asked IKEA for the second store in Hyderabad as the city is expanding.

IKEA market manager Christophe Adrein said that Hyderabadi homes are all about togetherness and love. She flourished the journey of the first IKEA store in India in Hyderabad.

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Ikea  Hyderabad