आ गया IKEA, अब क्या?
Ikea opened India’s first store in Hyderabad ( 40,000 square metre). It aims to provide affordable and world class furniture to Indians.
Ikea opened India’s first store in Hyderabad ( 40,000 square metre). It aims to provide affordable and world class furniture to Indians.
Brief:
It will open 25 stores in India. Next ones will come up in Gurgaon, Mumbai and Bengaluru. It invests INR 1000 crore per store. NYT
There are 1000 products for less than INR 200. It studied Indian market for twelve years. It visited a 100 homes to customize products for India; lower shelf, extra bed, raw material and no forks.
Ikea’s cafeteria can serve 1000 people. Visitors will get chicken meat balls, gulabjamun, biryani, samosas and numerous other dishes. Coffee plus cinnamon bun will cost INR 50.
My favorites; work-desk for INR 1300, work-lamp for INR 900, standing desk for INR 1800 and a coffee maker for INR 1400
Check out: the online store
Insight:
Only 5% of India’s furniture market is formal. Ikea is competing for the 95% of the unorganized market. It expects to serve 60 lakh people in the first year.
Ikea will launch its online shop next year. It will compete with brands such as Urban Ladder, Durian, Gautier, Godrej, Pepperfry and Amazon. People are already excited.
Expect more discounts from online furniture brands as they compete with Ikea. There are challenges by brands such as Walmart.