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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.
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.
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."
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.
IKEA to furnish Rustomjee group flats
Mon, Jan 21, 2019
Real estate developer Rustomjee has tied up with furniture giant IKEA India to design and furnish flats in its Virar project.
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.
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.
IKEA finds solution to stubble burning in Delhi NCR?
Fri, Nov 16, 2018
The project, part of the company`s `Better Air Now` initiative, will begin from India and is focussed on New Delhi, Gurugram and Faridabad which are among the world`s most air polluted cities.
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.
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.
IKEA plans to invest Rs 3,000 crore for three new centres
Sat, Oct 06, 2018
The company would open the centres as an omni-channelling brand with large IKEA stores, city centre stores and online presence, deputycountry manager (Management) of IKEA India Patrik Antony told PTI here Friday.
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.
Crowds storm IKEA store in Hyderabad on first day
Fri, Aug 10, 2018
With huge crowd thronging the store in the evening, the IKEA staff reportedly found it a bit difficult to regulate the entry, and there were also tense moments when some people broke queue to force their way in. A large number of visitors thronged the store as the company had launched an aggressive marketing campaign including advertisements with the prices of affordable products.
Recruitment 2018: IKEA to hire 15,000 in India to expand operations in coming years
Thu, Aug 09, 2018
Swedish home furnishings major IKEA today opened its first store in India, kicking off its retail journey five years after it received approval to invest in the country's single-brand retail sector.
IKEA buys 10-acre HUDA plot in Gurugram for Rs 842 crore
Wed, Nov 01, 2017
The Haryana Urban Development Authority (HUDA) today said it sold approximately 10-acre plot to Swiss furniture maker IKEA for around Rs 842 crore in its single largest property auction till date.
IKEA India announces six months paid parental leave for both men & women
Tue, Mar 14, 2017
IKEA India has announced a new parental leave policy in which all employees, including men, will be entitled to six months of parental paid leave from starting from March month.
India's home auctioneers raise gavel on unwanted goods
Wed, Oct 05, 2016
On a scorching rooftop in a smart neighbourhood in the Indian capital, 40 Delhiites with an eye for a bargain peer over auction tables creaking with used, broken and half-eaten items, the front line of a thriving second-hand economy.
IKEA to expand business in Indian markets by investing Rs 10,500 crore
Wed, Sep 21, 2016
Pratik Antoni, Country Head of IKEA said, IKEA looks forward to invest around Rs 10,500 crore in India, starting with 25 stores by 2025.”
Hyderabad to get India’s first IKEA store; creating over 500 jobs
Thu, Aug 11, 2016
Swedish furniture maker, IKEA held a ground breaking ceremony in Hyderabad on Thursday which will be India’s first IKEA store. The company stated that the store is set to open in autumn of 2017.
IKEA to open 25 stores in India by 2025
Fri, Jun 10, 2016
IKEA plans to open 25 stores in India by 2025, has already sourced goods worth 315 million euros from India, in which textiles contributed around 70 %. A company which did not have its retail presence in India now aims to sore higher.