IKEA’s Second Store In India Will Be In Mumbai!
Fresh off the news that Spanish retailer Zara is planning to open a massive store in South Mumbai comes news that Swedish home furnishings giant IKEA is also planning to open an impressive space in Maximum City. While the brand has confirmed that it will open its first store in Hyderabad in the latter half of 2017, IKEA is also planning a Mumbai outpost that will be spread across a massive 3.5 lakh sq. ft. in the suburb of Borivali. The brand is in talks with Oberoi Realty to buy the space for over Rs 900 crore, according to this article in Economic Times!
If the deal comes through, it will be one of the largest spaces to be occupied by any single furniture brand anywhere across the country. In a statement to ET, a spokesperson for IKEA India said that they have “expressed interest in buying the first land parcel in Mumbai, Maharashtra. As of now, we are awaiting approvals from relevant authorities before the final sign off and will comment once the process is complete.”
IKEA has big plans to open 25 stores across the country by 2025.