In a major expansion, Swedish home furnishings company IKEA has announced the purchase of its first land parcel in Mumbai. It will be the second one after Hyderabad in India.
- A total area of 23 acres has been finalized for the site in Navi Mumbai on the Thane-Belapur Road.
- The building area will be around 400,000 square feet.
- There will be 500-700 co-workers employed directly and another 1500 indirectly, engaged in providing services.
- The company is also planning to employ 50% women in the organization aiming at giving equal opportunities to all.
Future plans
The company said it is also planning to open stores in the cities of Bangalore, Mumbai and Delhi & NCR and plans to open 25 stores in India by 2025. However, it is yet to get land approval.
IKEA also said it has has been sourcing from India in the past and it plans to double its sourcing volumes by 2020. Recently, it has organized three “Make More in India” campaigns, including one in Mumbai to look for new suppliers.