Press Release: 12 February 2018,
Swedish home furnishing major Ikea has opened a Rs.100-crore distribution centre in Pune, and is also scouting for land in Maharashtra to build more facilities at an investment of Rs.750 crore.
The distribution centre has been set up to service its first store scheduled to be opened in Hyderabad by the middle of the year, followed by the second store in Mumbai in 2019. The company has also purchased land in Bengaluru and Gurgaon to open more outlets. Ikea India plans to set up 25 stores by 2025, investing Rs.10, 500 crore. The company will employ 600-700 people per unit, he said. Ikea will operate a non-bonded warehouse for domestic goods, and a custom warehouse which will stock imported goods, Patel said.
Last year, Ikea India had committed to double its local sourcing from €318 million to €600 million by 2020. According to the retail policy, the overseas companies have to mandatorily source 30 per cent of their wares locally, preferably from small suppliers.
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