IKEA India to invest ₹3000 cr for 3 new fulfilment centres

Daniel Fowler
October 13, 2018

You may have heard of the DIY furniture chain from the massive traffic jam that was created in Hyderabad when the first IKEA in India opened, or you might have seen some edgy memes on the net that you soon can relate to (also, Meatballs)!

Inter IKEA CEO Torbjorn Loof told Reuters online sales at the brand jumped 31 percent to account for 5 percent of total turnover, in line with the year before.

"We see that we have flattened out a bit on sales in existing stores, while we have strong growth through expansion and online", Loof said.

Hamilton then put its hand up in late 2009 to host an Ikea outlet. "We know 50% of people do not have a auto today which makes the accessibility of some of our units not extremely easy".

IKEA, which makes most of its sales in Europe, opened its first store in India this year and announced plans to enter Latin America, starting with Chile in 2020 followed by Colombia and Peru. "Such a move could be part of their global expansion strategy but would not result in a "typical" Ikea presence as seen in other countries".

China launches anti-halal crackdown in Xinjiang city
In August, the United Nations questioned China over crackdowns on Uighurs - an ethnic minority who are mostly Muslims . The Uighurs are Turkic-speaking Muslims who make up about half of Xinjiang's 22 million-strong population.

Barbara Martin Coppola, chief technology officer at IKEA Group, the owner of most IKEA stores, said tests underway ranged from connecting staff with customers via video to artificial intelligence tools to help people furnish their homes.

The world's largest furniture retailer saw total sales of goods and services reach 38.8 billion euros ($45 billion) during the 12 months. In its fiscal year 2019, which runs through August, a total of 15 retail locations are planned.

"We will extend full support to facilitate ease of doing business here and to be able to open the store very quickly to IKEA". The company now has online stores in 35 markets after its operations in Belgium, Romania and Malaysia introduced e-commerce. The Ikea.com website gets more than 2 billion visitors each year. IKEA is working on generating revenues through its online platform but the overall stress will be on the integration of both online and office stores.

We scoped out the new locale, and we discovered that it's only a short distance from the Nagasandra Metro Station so you can skip out on the traffic jams (a dream come true in Bangalore).

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