Ingka Centres, Ikea’s Retail Arm, Announces to Invest 500 Million Euros in Noida to Set up Meeting Place

 


Original Content- Business Upside India 

Ingka Centres, which operates under Ingka Group, the retail operational arm of Ikea, has announced its plan to add a new meeting place or Ikea store in Noida. It will be the second meeting place after the one under construction at Gurugram for an investment of €400 million or Rs.3500 crores. The company plans to invest €500 million to set up an Ikea store in Noida under the new meeting place project and will likely decide in the next six months. The main construction of the Gurugram meeting place project started on Tuesday, August 16, and the storage area will cover 250,000 square feet. It has been four years since the opening of Ikea first store in India in Hyderabad in 2018, followed by a big and small store in Mumbai and another one in Bangalore in the subsequent years.

Spreading the Footprints of Ikea Store in Noida

Since starting the India operations, Ikea had firm plans of spreading its footprints across the length and breadth of the country. Accordingly, after starting in the Southern and Western regions, the company is setting up Ikea Noida to mark its presence in the Delhi region covering North India. Ingka’s investment of €400 million in the Noida meeting place takes the total investment in both centres in North India to €900 million, which is massive indeed.

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