Sources said that the IKEA has acquired land for its physical store in Bengaluru, and this will be the third store of IKEA in India.
The store is planned to be about 4.5 lac square fit. A site of around 14 Acers has been acquired from Bangalore Metro Rail Corporation. The retailers plan to open about 25 stores in India by the end of 2025.
According to the Statement given by the chief minister of Karnataka, Siddaramaiah; “We are very happy that we will soon see an Ikea store in Bengaluru. Ikea will bring best business practices, many employment opportunities, infrastructure development and contribute to the growth of the retail sector in the state. We believe that Ikea will work as a catalyst in our development plans. The government is committed to providing the necessary support to Ikea for its future expansion plans in the state.
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While on the other hand the chief executive officer, IKEA India, Juvencio Maeztu; “This is a special day. Karnataka is a highly strategic and important market for Ikea.
Along with retail stores, Ikea’s purchasing team will also grow local sourcing and engage with local artisan and communities in many projects. Our first Indian sofa supplier is from Karnataka supplying to our global stores. Each Ikea store will employ 500-700 coworkers directly and another 1,500 people indirectly in different services. We are committed to inclusion and diversity and having 50 per cent women in our organization at all levels is non-negotiable.” Apart from creating various job opportunities this decision will also have a strong positive impact on the overall GDP, local communities and infrastructure
