Satish Meena, analyst at research firm Forrester said: "Ikea will have to focus on staff training, the right mix of branding and reaching out to more customers in smaller cities and towns".
John Achillea, IKEA's Managing Director for Telangana, Telangana's IT Minister K.T. Rama Rao and other key individuals of the Sweden-based furniture retail company inaugurated the store. The first India store was opened five years after the world's largest single brand retailer received government approval in 2013 to invest Rs 10,500 crore to open 25 stores in India by 2025.More news: Gerard Pique: Barcelona and Spain confirms global retirement
The store houses a 1,000-seater restaurant, IKEA's largest and possibly India's largest restaurant, a cafe which will offer coffee, bakes, frozen yogurt and many more for purchase, a kids' play area named Smaland where customers can leave their children safely.
India's furniture and furnishing market is largely unorganised with big players catering to high-end market. About 5% of IKEA's 38 billion euros global revenue in 2017 came through online sales. We have two ranges.
All roads led to Swedish home funishings behemoth IKEA's first India store at HiTec City on opening day as thousands of shoppers thronged the store, resulting in bumper-to-bumper traffic that brought Hyderabad's bustling IT hub to a grinding halt on Thursday evening.More news: PGA Championship: Tiger Woods flirting with cut line
Alongside standard Ikea furniture, "locally relevant products" such as masala boxes, Indian frying pans, rice cake makers and mattresses with a coconut-fibre centre, will be on offer.
The Swedish furniture company may open its 289,000-square-foot Live Oak store as soon as January or February 2019 despite previous reports scheduling the opening for summer 2019, then spring 2019.More news: Anti-racist protesters in Charlottesville angered by heightened police presence, riot gear
"It will be a flop, I tell you", he told AFP. Today, as a few dozen early shoppers walked through the doors as the emporium opened in Hyderabad, the acid test began of whether the furniture giant understands what Indian consumers want. I don't think it will give us much competition.
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