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    Ikea unveils Rs.7.5-bn infrastructure investment

    Ikea
    Shortly after opening Rs.1 billion distribution Centre in Pune, Swedish home furnishing major Ikea has launched the process of scouting land in Maharashtra to build more facilities at an investment of Rs.7.5 billion, manager, distribution operations at Ikea India, Bimal Patel said that the company will expand this to 3,70,000 sqft by next year. It is also scouting for more land in Maharashtra to build its own warehousing facilities over the next two to three years. The distribution centre has been set up to service its first store scheduled to be opened in Hyderabad by the middle of this year, followed by the second store in Mumbai in 2019. The company has also purchased land in Bengaluru and Gurgaon to open more outlets. Ikea India plans to set up 25 stores by 2025, investing Rs.105 billion. The company will deploy 600-700 people per unit and will operate a non-bonded warehouse for domestic goods, and a custom warehouse which will stock imported goods, he added.
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