The new store is the first large format store in Maharashtra, spans over 5.3 lakh square feet and is located near the local Turbhe train station and features over 7,000 home decor products.
IKEA also plans to open two stores in the Mumbai city center, a company official said.
The IKEA stores in the city center would be smaller than the Navi Mumbai flagship store, which is a large-format outlet.
“With a planned investment of Rs 6,000 crore by 2030, IKEA aims to meet 25 million people in Maharashtra. IKEA will provide more than 6,000 jobs, including 50% for women,” the company said.
IKEA India, part of the Ingka Group, is also working on its third store in India in Bengaluru, followed by Delhi, although it hasn’t shared any timeline for these stores.
Peter Betzel, CEO and Chief Sustainability Officer of IKEA India, told reporters that Mumbai is the first omnichannel market for the company.
“Today marks an important milestone as Mumbai is the first omnichannel market for IKEA in India … people can now visit our store, shop online or purchase their favorite and affordable products via our” Click & Collect, “” Betzel said.
The new store will provide over 600 jobs, 50% of which will be for women.
The Navi Mumbai store will host the largest ‘Smaland’ children’s area for IKEA globally, along with one of its largest 1,000-seat restaurants with nearly 100% locally sourced food, the company said.
IKEA opened its first retail store in India in Hyderabad in August 2018, followed by online stores in Mumbai, Hyderabad and Pune.
Speaking of Mumbai, IKEA India Market & Expansion Manager and Maharashtra MD Per Hornell said the city has good potential with good home decor interests.
“We are currently working on two city stores, which will open over the next year. These stores would be approximately 80,000 square feet in size,” he said.
The company will also continue to invest in its e-commerce solutions, strengthening the interface with customers and developing logistics capacity with its omni-channel approach, he added.
“The next destination is Bengaluru, where we have purchased some land,” Hornell said, adding that construction is underway and the company is looking to complete it as soon as possible.
“We are also consolidating our plans for Delhi,” he said, but added that it is too early to share a timeline for this.
For Delhi, the company is currently debating land in Noida and Gurgaon as well.
IKEA aims to reach 100 million Indian customers by 2022 through its omni-channel approach, he said, adding that the company has a long-term commitment to the Indian market.
“IKEA is not a company for a sprint but a company for a marathon and our commitment and commitment to India does not need to achieve short-term goals to justify it. Our conviction and our role in India for IKEA it goes beyond that kind of … thinking. It’s always the long-term consideration … “, he added.
The Ingka Group is a strategic partner in the IKEA franchise system, which operates 378 IKEA stores in 30 countries. The Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centers.