IKEA leases 1 lakh sq ft at R Metropolis Mall in Mumbai’s Ghatkopar for city-center retailer

Swedish furnishings and residential furnishings retailer IKEA has leased two flooring unfold over 1 lakh sq ft of retail house at realty developer Runwal Group’s R Metropolis Mall in Mumbai’s central suburb Ghatkopar for a long-term tenure of whole 9 years, mentioned individuals with direct information of the event.

This house shall be utilized to develop IKEA’s second city-center retailer within the nation’s industrial capital.

IKEA is thought for its large shops. Nonetheless, the corporate is approaching Mumbai, the nation’s most costly realty market, with a distinct plan according to different worldwide cities like Paris, Moscow and Shanghai. The retailer is more likely to comply with this omnichannel technique throughout India.

Not too long ago, the retail large opened India’s first metropolis retailer in Mumbai’s Worli space and Ghatkopar would be the second such retailer. IKEA’s new retailer in Kamala Mills is designed for smaller areas, measuring in at round 50,000 to 1 lakh sq ft, versus the standard blue field shops, that are sometimes unfold over 4 lakh to five lakh sq ft.

In India, it already operates a large-format retailer in Navi Mumbai that began operations in 2020. Previous to this, the corporate had began its first massive retailer in Hyderabad. It additionally has a large-store beneath improvement in Bangalore and that is more likely to go dwell later this 12 months.

“The corporate has inked the deal for this house and was registered not too long ago. It’s more likely to open this retailer by the center of this calendar 12 months,” mentioned one of many individuals talked about above.

Town retailer format permits IKEA to be tailored to smaller areas in an city context and makes it extra handy for the various prospects to expertise the IKEA supply.

“IKEA has a long-term view on Maharashtra and we can have an omnichannel strategy available in the market with small and massive shops and on-line. We opened the massive IKEA Navi Mumbai retailer in 2020 and not too long ago the primary metropolis retailer in Worli. Presently IKEA India is in talks with completely different entities with a view to determine appropriate places for our future shops in Mumbai. We can share extra particulars at a later date when now we have secured all processes,” mentioned a spokesperson of IKEA.

Runwal Group declined to remark for the story.

The corporate’s omnichannel development technique is pushed by its objective to be near prospects, change into extra accessible, handy, and create an important IKEA expertise wherever and at any time when they need.

IKEA additionally has e-commerce operations and IKEA app in Hyderabad, Bengaluru, Mumbai, Pune, Ahmedabad, Vadodara and Surat. Mumbai, Delhi-Nationwide Capital Area (NCR) and Bangalore are prioritized omnichannel markets together with each offline and on-line presence for the corporate’s India operations.

In India, the retailer is working with over 50 suppliers, partaking over 45,000 direct co-workers and round 4 lakh co-workers within the provide chain.