Continuing its long-term plans in India, IKEA – the Swedish home furnishings company – has bought its third land parcel in Bengaluru from Bangalore Metro Rail Corporation. The land is spread across 14 acres of area in Nagasandra, Tumkur road.
IKEA plans to build a 4.5 lakh sq. ft. retail store which is expected to be visited by more than 5 million customers. The store will be opening nearby Nagasandra metro station which will provide easy access as well as sustainable commute for the customers to the store.
With over 500-700 direct employment opportunities and 1,500 people in different services, the company is also firm on its inclusion and diversity policy which encourages to include 50 per cent women in the organisation at all levels.
This is the first venture of IKEA in Bangalore. Before this, the company has set up plans for its stores in Mumbai and Hyderabad which is slated to open next year. It also has planned to open a total of 25 retail stores in India by 2025.
“We believe that IKEA will work as a catalyst in our development plans. The government is committed to provide the necessary support to IKEA for its future expansion plans in the state,” says Siddaramaiah, Chief Minister, Karnataka.
Source: ET Realty