IKEA
IKEA malls business to invest around $928 million in India, top executive says
Wed, Dec 08, 2021
The malls division of Swedish furniture giant IKEA will invest around 70 billion Indian rupees ($928 million) in two centres it plans to build on the outskirts of New Delhi, a top executive said on Wednesday.
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IKEA to adopt omni-channel approach for expansion in India
Mon, Sep 28, 2020
The COVID-19 pandemic has slowed down Swedish furniture retailer IKEA's expansion plans in India but the company is adjusting to the new reality while continuing to bet on the country as one of its "very important markets", according to company's India CEO Peter Betzel
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Ingka Group invests in Livspace
Mon, May 20, 2019
Launched in 2015, Livspace had raised USD 70 million (about Rs 490 crore) as part of its series C round and brought TPG Growth and Goldman Sachs onboard as investors. Livspace said the fresh investment comes months after the last round and Avendus Capital was the financial advisor to the company for the investment.
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Looking at omni-channel presence in India, says Swedish home furnishings major IKEA
Thu, Feb 14, 2019
"We are long term committed to India. We are planning to have omni-channel presence here. We will have three formats -- big stores, online and smaller stores here," IKEA India CEO Peter Betzel told PTI.
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IKEA accelerates services drive as competition stiffens
Mon, Feb 11, 2019
"Anyone who sells furniture will have a delivery service," Kantar Retail analyst Ray Gaul said. "The difference will be that instead of having just a delivery service, IKEA are trying to give some assistance in designing your space, and that`s where TaskRabbit can be helpful."
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IKEA's first India store sold more despite lower than anticipated footfall
Fri, Feb 01, 2019
"The ambition was to have more footfall. We imagined higher visitation but at the same time we see many positive categories. People are buying more items and they are spending more money. We are selling more pieces. This is good for IKEA because we are volume driven company. They are spending and buying more than we anticipated," said John Achilles, Hyderabad Store Manager, IKEA India.
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Good news! Whopping 8000 jobs coming; do you live in this state?
Thu, Dec 20, 2018
House furnishing company, IKEA India has signed a memorandum of understanding (MoU) with the Chief Minister Yogi Adityanath led Uttar Pradesh government according to which it will invest more than Rs 5000 crore in the state over the coming years.
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Jobs 2018: IKEA on hiring drive in India, to up staff count to 15,000, but will sack 7,500 other staff
Wed, Nov 21, 2018
Swedish furniture major IKEA Wednesday said its employee count in India may see a ten-fold rise to 15,000 in future, whereas the company may look at trimming around 7,500 jobs globally as part of restructuring.
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IKEA to invest Rs 2,000 crore in its Bengaluru store
Fri, Oct 12, 2018
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.
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Good news! Despite Modi govt move, Ikea not to hike prices of low-end furniture products
Mon, Oct 08, 2018
Swedish furniture giant Ikea Sunday said it would not raise the prices of low-end furniture and furnishing products if the company costs increase due to Centre's recent hike in customs duty on some furnishing items to curb imports of non-essential goods.
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What is IKEA? All you want to know about the company that just opened its store in Hyderabad
Fri, Aug 10, 2018
In 2006, Ikea first displayed interest in the Indian market, but Indian laws then allowed only 51 per cent foreign ownership. Besides, foreign single-brand retailers were needed to have a local partner to operate in India.
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