IKEA to invest Rs 2,000 crore in its Bengaluru store
Swedish furniture, kitchen appliances and home accessories retailer IKEA would invest Rs 2,000 crore in setting up and expanding its store in this tech hub in 2020, a top official said on Thursday. "As Karnataka is a priority for us, we are investing Rs 1,000 crore in setting up our popular store and another Rs 1,000 crore in expanding it later," IKEA India Chief Executive Peter Betzel told reporters at its ground-laying ceremony in the city`s northwest suburb.
IKEA logo, seen above its new store in Hyderabad, India. Photo courtesy: Reuters