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<ul><li>Online home solutions company Wakefit teased <keyword id="6371031" type="General" weightage="100" keywordseo="ikea" source="Orion">Ikea</keyword> and the fact that’s store is located on the outskirts. </li><li><keyword id="14280410" type="General" weightage="50" keywordseo="wakefit-trikea" source="Orion">Wakefit Trikea</keyword>? It also needled the Ikea in the ad, with a snappy pun. </li><li>This is not the first time that Wakefit has engaged in viral marketing stunts.</li></ul>Swedish furniture maker IKEA received a snarky welcome, days after it opened its large-format store in <keyword id="6354321" type="General" weightage="80" keywordseo="bengaluru" source="Orion">Bengaluru</keyword>. An online home solutions company Wakefit teased it and reminded the citizens how bad the traffic is – that the store is located on the outskirts of the company – at Nagasandra. That’s 17 kilometres away from the city centre. “The traffic is bad. The weather is amazing, the best brew is at ToiT, the tastiest dosas are at CTR and the Ulsoor lake never ever freezes,” the ad started off. What stunned the <keyword id="50390" type="General" weightage="50" keywordseo="netizens" source="Orion">netizens</keyword> is the next line. “But if you are looking for the best furniture in town, all you have to do is visit one of our stores. They are not located in the outskirts of the city. Just saying. Did we mention that the traffic is bad?,” the ad says. Bengaluru’s traffic which can only be described as nightmarish as it can stall for hours at a stretch across many stretches — is a good marketing tool for an online store with experience centers within municipal limits. Wakefit Trikea? It also needled the Ikea in the ad, with a snappy pun. This is not the first time that Wakefit has marketed in a manner that went viral. Its best campaign yet is its plan to hire ‘sleep interns’ who would be offered a stipend of Rs 1 lakh, along with a prize of Rs 10 lakh for the best performer! Netizens who are always in search of good fun are amused. <div type="twitter" handle="AabhashK" handlename="Abhash K" image="http://pbs.twimg.com/profile_images/1484830983354421249/Hkanjm1p_normal.jpg" favoritecount="26" retweetcount="1" status="Wakefit's ad is fab, *and* counterintuitively it's a necessary measureCue the &quot;Double Jeopardy Law of Brands&quot; Sma… https://t.co/EeKGfrnoYW" createdat="1656051330000" id="1540217028824276998"></div><div type="twitter" handle="beastoftraal" handlename="Karthik 🇮🇳" image="http://pbs.twimg.com/profile_images/1140493276316745734/WH-6N17h_normal.jpg" favoritecount="435" retweetcount="70" status="Hahahaha, very well played, Wakefit 😂Using Swedish for a front-page ad was a wonderfully contextual touch while g… https://t.co/BWI2ofEo92" createdat="1656040158000" id="1540170172702502912"></div>Ikea has already created a splash in the Indian market. It started with its <keyword id="6354552" type="General" weightage="50" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> store and expanded with three stores in Mumbai. Its Bangalore store is a large-format store with 4,60,000 sq feet of land in Nagasandra. ALSO SEE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/wipro-icad-to-create-indias-first-digital-airport/articleshow/92435401.cms">Wipro, ICAD to create India's first digital airport — here are its features</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/auto-and-finance-stocks-can-bounce-back-even-if-the-market-crashes-in-july/articleshow/92436186.cms">Auto and finance stocks can bounce back even if the market crashes in July</a>

Welcome to Bengaluru Ikea, did we mention the traffic, says competitor Wakefit

<ul><li>In an interview with Business Insider, <keyword id="2412089" type="COMPANY" weightage="20" keywordseo="Preet-Dhupar">Preet Dhupar</keyword>, <keyword id="6429663" type="ORGANIZATION" weightage="20" keywordseo="ikea-india">IKEA India</keyword>’s Chief Financial Officer shares the Swedish furniture retail giant’s big plans for India. </li><li><keyword id="6371031" type="UNKNOWN" weightage="20" keywordseo="IKEA">IKEA</keyword> India is finally opening the doors for its second store in India – <keyword id="5117782" type="UNKNOWN" weightage="20" keywordseo="IKEA-navi-mumbai">IKEA Navi Mumbai</keyword>. </li><li> IKEA sees India as a long-term investment with the stores in Mumbai and Navi Mumbai, Bengaluru opening next and a land acquisition done in Gurugram for their first store in the North. </li></ul>Ikea may be used to gala events where thousands of people throng every store opening anywhere in the world. But the latest one in Navi Mumbai is likely to be a relatively sombre affair thanks to the COVID-19 pandemic. However, while it has toned down the fanfare associated with the Swedish furniture retailer, there is little change in the company’s goals. In line with its global strategy, the company is sticking to its planned store openings in India, and hasn’t changed its strategy, the Chief Financial Officer, Preet Dhupar, responsible for the market told Business Insider. “India is a growth market for us, this is where a big part of the world’s population lives with a majority of young people starting their journeys. We want to be a part of their journey. Few years down the line, IKEA India hopes to be one of the biggest markets for the global team,” she said. <div type="Youtube" id="LgOXv2qEkc4" title="IKEA India Is Finally Opening The Doors For Its Second Store In India – IKEA Navi Mumbai" thumbUrl="https://i.ytimg.com/vi/LgOXv2qEkc4/mqdefault.jpg"></div> It is expected that there will be a considerable change in people’s behaviour⁠— in that, they are likely to avoid crowded places like shopping areas and malls. That has led many retailers like Reliance Retail, DMart, and Shoppers Stop to pivot to a new strategy where more sales come from online platforms. While Ikea too has relied on online sales during the pandemic, it hasn’t scaled down on its offline aspirations. “Of course, the targets have been revised as they have for all global outlets of IKEA. But that doesn’t change our investment plans in India,” she said. IKEA will pump in ₹10,500 crore into its India unit⁠— ₹7,000 crore has already been spent in fulfillment centres and store, land acquisitions in the country. According to Dhupar, the next store will be opened in Bengaluru, followed by Gurugram, its first one in North India, which reportedly has been delayed because of the company’s <a href="https://www.thehindubusinessline.com/companies/ikeas-gurgaon-project-to-get-delayed-as-it-rejigs-plan/article33154806.ece#:~:text=Swedish%20furniture%20giant%20IKEA's%20plans,2017%20to%20build%20the%20store.">revised plans for the city</a>. As the 5.3 lakh sq ft store in Navi Mumbai, opens its doors to the public today (Dec 18), IKEA India will hope to make up for a lost year. However, it is likely to be a much smaller crowd than what Ikea is used to. IKEA’s opening in Hyderabad which saw over 15,000 people line up on the first day itself, won’t be a scene replicated in Mumbai. “We will be nowhere near that, in fact it will be 1/5th the number,” said Dhupar. “Thanks to the size of our stores, we can make way for people to have a safe shopping experience. We are able to maintain social distancing with people having enough space to shop around,” said Dhupar. In the last year, IKEA India has seen over 25 million people shop online and 5-6 million people walk into its Hyderabad store. With the easing off of the pandemic restrictions, Dhupar is keeping her fingers crossed to see the same number in the coming year, if not more. “IKEA India is just scratching the surface when it comes to making a mark in the global numbers. You have to understand, we had just the one store in India until a few days ago. But hopefully, with the new store, we will be able to double the numbers,” she said. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/wistron-apple-iphone-manufacturer-could-face-these-penalties-if-found-guilty/articleshow/79790319.cms">If investigators find Wistron management guilty, here's what is at stake for the company</a>

INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan

<ul><li>After making its Indian debut in Hyderabad, <keyword id="6371031" type="UNKNOWN" weightage="20" keywordseo="IKEA">Ikea</keyword> is now set to launch its first <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> store in Mumbai by 2019. </li><li>Ikea will also make an investment of ₹20 billion at it’s newly launched <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> facility. </li><li>The company aims to open 25 stores in India by 2025. </li></ul>On 11 October, the global <keyword id="6354386" type="UNKNOWN" weightage="20" keywordseo="furniture">furniture</keyword> retailer Ikea said that it had commenced the construction of its first store in Bengaluru. This will be the company’s second retail store after its Hyderabad location. During the sod-turning ceremony at its Bengaluru facility, the company also shared its plan to open its first online store in Mumbai by 2019. According to media reports, the store will be spread over 14 acres of land and will house 1000 restaurants. Ikea has decided to employ a total of 2,500 people in Bengaluru, engaged in both direct and indirect services. In order to facilitate the construction, the company will infuse around ₹20 billion in two equal installments. The company launched its first store in Hyderabad on 9 August. The Hyderabad-based Ikea store has 7,500 products to offer with prices ranging for ₹15 to ₹36,000. Apart from this, the furniture retailer is mulling a plan to invest ₹30 billion in the construction of warehouses in Mumbai, Gurugram, and Bengaluru. Ikea’s strategy in India pivots on price. It has intentionally kept price of around 1000 products below ₹200. The company reportedly spent 10 years assessing the Indian market before investing ₹800 crores in Hyderabad facility. Last month, the company said it planned to open 25 retail stores across India by 2020. Furthermore, by 2030, it plans to be present in 49 cities in India.

Ikea plans to open an online store in India next year

<ul><li>Swedish furniture retailer Ikea has opened its online for the residents of Mumbai, India's financial capital.</li><li>The company's launch in India's financial capital comes a year after its debut in Hyderabad.</li><li>That would pit the company directly in competition with the likes of Amazon, Flipkart, and Urban Ladder.</li></ul>Swedish furniture retailer Ikea has opened its online for the residents of Mumbai, India's financial capital. The launch in India's financial capital has come a year after the debut in Hyderabad. Mumbai will be the first city in the world where the multinational furniture retailer is going online without a physical store. With the entry of Ikea into one of the country's biggest consumer markets, competition is heating in the furniture space between a host of retailers both online and offline including the likes of Urban Ladder, Pepperfry, Home Town and Home Centre. However, organised retail is only a small portion of the total furniture demand, for which these players will battling each other. Going online first is not the only thing different about Ikea’s entry into Mumbai. Even after its online debut, the iconic stores of gargantuan size, roughly half a million square feet each, will be absent at least to start with. “The smaller stores can be 50,000 sq. ft - 150,000 sq. ft., large depending on what locations we are able to find," India Managing Director <a href="https://www.businessinsider.in/business/ikea-mumbai-store-launch-to-take-on-pepperfry-urban-ladder-and-flipkart/articleshow/70563420.cms" data-type="tilCustomLink" target="_blank">Peter Betzel told Business Insider</a> in an interview earlier this month. While Betzel didn’t elaborate on the rationale, the smaller stores may make sense in a crowded place like Mumbai where real estate is available at an exorbitant premium and travel can be cumbersome even for interested customers. The New York experience Even in New York, Ikea has a ‘planning studio’ in the upscale Manhattan area and not the standard blue-box store. It seems to have a similar plan for Mumbai too. “In addition to ecommerce and the Navi store, IKEA will also open smaller city center stores. This will make us more accessible and bring us closer to where customers are,” Betzel said. Ikea calls these smaller stores ‘touch points’ for the customer to get an experience before making the purchase. “Currently the decision is to open two city center stores in different parts of Mumbai. There could be more online and offline touchpoints in the future based on the learnings from the market,” Ikea’s top boss in India explained. The race is hotting up While both Pepperfry and Urban Ladder may have a headstart, they are going up against a giant in Ikea. The two startups put together have received investments worth less than $300 million in the last six years. On the other hand, “Ikea has committed to invest 1.5 billion euros ($1.68 billion) so far. Three Indian cities are in the fast speed expansion markets namely Mumbai, Bengaluru and Delhi/NCR. Our focus on India will only increase in the future,” according to Betzel. Even Flipkart, India’s largest online retailer, now owned by Walmart, is looking to set up experience centres. It unveiled an <a href="https://www.businessinsider.in/flipkart-offline-furniture-store-puts-its-in-competition-with-pepperfry-ikea-urbanladder/articleshow/70427696.cms">1,800 square feet outlet in Bengaluru</a> on July 29. With the likes of Walmart and Ikea throwing in their hat, running against smaller but more agile and homegrown players like Pepperfry and Urban Ladder, furniture retail in India is certainly set for exciting times. That would pit the company directly in competition with the likes of Amazon, Flipkart, and Urban Ladder, who have spent years and billions in building a customer base in India. But Betzel is more sanguine than many others would be. “With more players, the whole category will grow even more. There is place for everyone,” he said. The furniture market in India is expected to be worth $17 billion in the next three years but the big shops, malls and snazzy online retailers with discounts and offers sell <a href="https://redseer.com/reports/disruption-in-indian-furniture-retailing/">less than two in every ten pieces of furniture</a> bought in India. The trend is changing, especially in urban areas, and there is enough headroom for growth for the organised segment. 
 
 
 
 
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/business/ikea-mumbai-store-launch-to-take-on-pepperfry-urban-ladder-and-flipkart/articleshow/70563420.cms" data-type="tilCustomLink" target="_blank">Ikea will make its Mumbai debut ‘very shortly’, says India chief as the first store in Hyderabad turns a year old</a> <a href="https://www.businessinsider.in/i-visited-ikeas-new-manhattan-location-and-it-was-like-nothing-else-ive-seen-from-the-retailer/articleshow/68821133.cms">I visited Ikea's new Manhattan location - and it was like nothing else I've seen from the retailer</a>

Ikea in Mumbai: The Swedish retailer is wooing online shoppers in India's financial capital

Ikea has spent five years in India, and its flagship store in Hyderabad is turning a year old. Now, it’s time for its debut in the country’s financial capital, Mumbai, according to Peter Betzel, the Swedish furniture retailer’s Managing Director in India. An announcement is expected within the next few days, according to another source. “While the Navi Mumbai store is getting ready, our focus now is to launch e-commerce in Mumbai very shortly, to be able to meet the many Mumbaikars sooner,” Betzel told Business Insider in an exclusive interview. This is the first time the global retailer is entering a market without a physical store. That would pit the company directly in competition with the likes of Amazon, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, and <keyword id="6368309" type="UNKNOWN" weightage="20" keywordseo="urban-ladder">Urban Ladder</keyword>, who have spent years and billions in building a customer base in India. But Betzel is more sanguine than many others would be. “With more players, the whole category will grow even more. There is place for everyone,” he said. The furniture market in India is expected to be worth $17 billion in the next three years but the big shops, malls and snazzy online retailers with discounts and offers sell <a href="https://redseer.com/reports/disruption-in-indian-furniture-retailing/">less than two in every ten pieces of furniture</a> bought in India. The trend is changing, especially in urban areas, and there is enough headroom for growth for the organised segment. 
 
 
 
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 Touch points Going online first is not the only thing different about Ikea’s entry into Mumbai. The iconic stores of gargantuan size, roughly half a million square feet each, will be absent at least to start with. “The smaller stores can be 50,000 sq. ft - 150,000 sq. ft., large depending on what locations we are able to find,” he said. While Betzel didn’t elaborate on the rationale, the smaller stores may make sense in a crowded place like Mumbai where real estate is available at an exorbitant premium and travel can be cumbersome even for interested customers. Even in New York, Ikea has a ‘planning studio’ in the upscale Manhattan area and not the standard blue-box store. It seems to have a similar plan for Mumbai too. “In addition to ecommerce and the Navi store, IKEA will also open smaller city center stores. This will make us more accessible and bring us closer to where customers are,” Betzel said. Ikea calls these smaller stores ‘touch points’ for the customer to get an experience before making the purchase. “Currently the decision is to open two city center stores in different parts of Mumbai. There could be more online and offline touchpoints in the future based on the learnings from the market,” Ikea’s top boss in India explained. Been there, done that Similar formats have been tried by other online furniture retailers in India like Pepperfry and Urban Ladder. Pepperfry had launched its first offline studio in 2014. Since then, they have expanded to 65 studios across 28 cities. In fact, in every city that Pepperfry has launched a studio, the sales had doubled, <a href="https://www.businessinsider.in/pepperfry-studio-location-to-increase-50-as-sales-double/articleshow/69859900.cms">according to the management</a>. “While we don’t sell directly through our offline studios, they contribute significantly to our sales. Close to 40% of our overall turnover comes from the online bookings made at these studios,” Mihir Kulkarni, Vice President and Head of Omnichannel expansion, <a href="https://www.businessinsider.in/flipkart-offline-furniture-store-puts-its-in-competition-with-pepperfry-ikea-urbanladder/articleshow/70427696.cms">Pepperfry told Business Insider in an earlier interview</a>. The race is hotting up While both Pepperfry and Urban Ladder may have a headstart, they are going up against a giant in Ikea. The two startups put together have received investments worth less than $300 million in the last six years. On the other hand, “Ikea has committed to invest 1.5 billion euros ($1.68 billion) so far. Three Indian cities are in the fast speed expansion markets namely Mumbai, Bengaluru and Delhi/NCR. Our focus on India will only increase in the future,” according to Betzel. Even Flipkart, India’s largest online retailer, now owned by Walmart, is looking to set up experience centres. It unveiled an <a href="https://www.businessinsider.in/flipkart-offline-furniture-store-puts-its-in-competition-with-pepperfry-ikea-urbanladder/articleshow/70427696.cms">1,800 square feet outlet in Bengaluru</a> on July 29. With the likes of Walmart and Ikea throwing in their hat, running against smaller but more agile and homegrown players like Pepperfry and Urban Ladder, furniture retail in India is certainly set for exciting times. SEE ALSO: <a href="https://www.businessinsider.in/i-visited-ikeas-new-manhattan-location-and-it-was-like-nothing-else-ive-seen-from-the-retailer/articleshow/68821133.cms">I visited Ikea's new Manhattan location - and it was like nothing else I've seen from the retailer</a>

Ikea will make its Mumbai debut ‘very shortly’, says India chief as the first store in Hyderabad turns a year old

<keyword id="6371031" type="COMPANY" weightage="100" keywordseo="Ikea">IKEA</keyword>’s first store in India is all set to open in the second half of next year, and it plans to open 25 such stores in 25 cities of India by 2025. This has also led the Swedish furniture retailer to consider setting up a production unit in the country so that it can fully tap the potential of 'big middle class' consumers here. 

	As per reports, it has already purchased land in Hyderabad and Mumbai where it would start retail operations, and aims to double sourcing of products for its global operations from India by 2020. 
 

	"It is important for us to set up our production (unit) in India," said IKEA Group President and CEO Peter Agnefjäll.
 

	He also went ahead to explain the reason for a production facility in India, saying, "On one hand that would support the growth of the economy and secondly, what we do is that we sell products, which are inexpensive. You can not distribute these inexpensive products long distances because if you do that then you would ruin the margin of the product." 
 

	Agnefjall further said: "So it's important for us to go for the local production. If we have the right technology, right raw materials which is existing there then we can combine with the knowledge of IKEA and turn into a fantastic product.
 

	"Then only, I think we can reach the big middle class and not the affluent few but the many people in India. There is enormous growth of the people of the middle class year by year and by 2025 it would look different from today," he added.
 

	He was also asked about the total investments that IKEA thinks would go into the Indian market, to which he said that as per estimates, more than 1.5 billion euros would be invested in India for storage and distribution. 
	 
	<a href="http://i.huffpost.com/gen/1526685/images/o-PETER-ANGEL-facebook.jpg">Image source</a>

After setting up a store, IKEA could also open a production unit in India

<keyword id="864887" type="UNKNOWN" weightage="100" keywordseo="Pepperfry">Pepperfry</keyword> is currently one of India’s popular e-tailers whose focus has now, shifted from being just online. The company, which is currently leading the e-commerce pack in terms of volume,aims to contribute to 20 million Indian homes by 2020. With <keyword id="6371031" type="COMPANY" weightage="20" keywordseo="Ikea">IKEA</keyword>, world’s biggest furniture retailer- entering Indian market next year, the Indian furniture industry is due a makeover. To keep the momentum going, Pepperfry is pioneering the omni-channel approach by opening 16 Studios across the major metro cities in India. These Studios essentially serve as offline experience centers for discerning Pepperfry customers who are seeking design inspiration through a touch and feel of the Pepperfry products and through complimentary design consultation. 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="55855786" title="IKEA announced that they will give their Indian employees Rs.1,40,219 as an extra bonus, this year" rank="1.0" kind="RELATED" publishDate="Dec 07, 2016, 6:19 PM" mstype="2" mssubtype="0"></div></div>


 The Studios also help build enjoyable customer experiences and are great touch points for better engagement, thereby seamlessly bridging the gap between offline and online. Business Insider caught up with <keyword id="187955" type="PERSON" weightage="20" keywordseo="Ashish-Shah">Ashish Shah</keyword>, COO &amp; Founder, Pepperfry to talk about how the focus is shifting to offline experience coupled with online convenience, “In 2104, we opened a studio right below our office to garner feedback and also give an insight into the products. In 6 months, we expanded to 6 more studios but then decided to stop to test the waters,” says Shah who claims that the company has had a toe in the omni-channel water for a while. 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="58925896" title="Indians prefer buying 2BHK apartments over Villas according to Housing.com" rank="1.0" kind="RELATED" publishDate="May 31, 2017, 3:38 PM" mstype="2" mssubtype="0"></div></div>


 The company soon realized that the studios provided a great form of marketing and a lot of sales were happening through studios.”We found out the studios gave her higher returns that hoardings which cost us the same amount of money. Our customer conversion rate was as high as 45% which was unheard of,” says Shah who received great feedback for the format of the stores. The customer is not online or offline but it’s the channel that they choose. With 22 studios in the country, Pepperfry currently attributes 25% of its purchases due to the studios. “To get the studios to the online customers, we are also integrating Virtual Reality experience on the website. We want the customers to be at ease and see how the furniture looks in their homes,” says Shah whose company is largest that furniture seller trailed by HomeCentre. The <keyword id="4800999" type="UNKNOWN" weightage="20" keywordseo="indian-home-furniture">Indian Home &amp; Furniture</keyword> currently stands at $20 Billion with only about 12% of it being organised. With 64% online traffic, Shah says that the online space is no competition as the company is thrice of that of its closest competitor. 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="58941296" title="IKEA India’s Third Store will open in Bengaluru" rank="1.0" kind="RELATED" publishDate="Jun 01, 2017, 12:30 PM" mstype="2" mssubtype="0"></div></div>


 “The goal is to organize the unorganised market by creating awareness and grow the organised category and IKEA will aid in that,” Shah is confident that the market will expand and as Pepperfry is a marketplace, there are a lot of possibilities.

Here’s why Pepperfry is taking the Omni-channel route before IKEA enters the Indian market

<ul><li><keyword id="6371031" type="COMPANY" weightage="20" keywordseo="IKEA">IKEA</keyword> India’s Mumbai store is all set to create employment opportunities for the localites with over 10,000 jobs in merchandising, store operations, supply chain and allied assembly services. </li><li>The e-commerce retailer plans on having 50% of its workforce to be women as well as recruiting from the lesbian, gay, bisexual and transgender (LGBT) communities. </li><li>More than just creating employment, the store plans on enforcing better employee policies to provide a conducive work environment.</li></ul>Swedish home furnishing giant <a href="https://nordic.businessinsider.com/category/ikea/">IKEA</a> is ready to expand its operations in India employing <a href="https://www.indiatoday.in/business/story/ikea-create-10000-jobs-maharashtra-with-launch-of-second-store-in-mumbai-1381082-2018-11-02">10,000</a> people directly and indirectly with the launch of its second store in India. In order to maintain a gender equal workplace, the company plans on making sure that at least half of its hires are women. The store opening in India’ financial capital, Mumbai, is expected to be operational by 2019 and has opened its doors to hiring from the lesbian, gay, bisexual and transgender (LGBT) communities as well. The Mumbai store will create 5,000 direct employment opportunities, as well as another 5,000 indirect jobs, in the retail sector. That’s a total of 10,000 people being employed by IKEA that they say will contribute to the growth of the retail sector in the state of <keyword id="13126" type="LOCATION" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword>. Their idea of inclusion and equality are very much in line with Maharashtra government’s development initiatives, said Rajesh Kumar, Principal Secretary, Labour Department, Maharashtra government in a conversation with <a href="https://www.indiatoday.in/business/story/ikea-create-10000-jobs-maharashtra-with-launch-of-second-store-in-mumbai-1381082-2018-11-02">India Today</a>. Coming to equality Women empowerment in the workplace is currently a hotly debated topic in India with the advent of the<a href="https://www.businessinsider.com/what-is-the-me-too-status-on-facebook-2017-10?IR=T"> #MeToo movement</a> taking over social platforms. The world’s largest e-commerce retailer has thus decided to enforce an equal ratio of women onboard across levels. And rather on focusing exclusively on the equality of women, the company <a href="https://www.business-standard.com/article/companies/ikea-to-hire-5-000-workers-for-navi-mumbai-store-create-10-k-jobs-in-3-yrs-118110200380_1.html">reported</a> that they are open to recruiting professionals from lesbian, gay, bisexual and transgender (LGBT) communities. IKEA’s strategic planning also includes employing better employee policies in order to have a healthy workforce such as day care facilities, pension plans, and mentoring. Per Hornell, IKEA India’s Market Manager in Maharashtra, commented that the state is an extremely important market and unique in terms of its lively and diverse culture, entrepreneurial spirit and utilization of space. Having invested <a href="https://economictimes.indiatimes.com/industry/services/retail/ikea-to-double-local-sourcing-by-2020open-store-in-navi-mumbai/articleshow/58325847.cms">₹7 billion</a>, the IKEA’s new store in Mumbai sprawls across 23 acres. The company also plans to launch its third store in Bengaluru with an aim of opening 25 new stores in the coming years at a total investment of ₹105 billion in the Indian market. Right now, IKEA only one store in the city of <keyword id="6354552" type="LOCATION" weightage="20" keywordseo="hyderabad">Hyderabad</keyword> with 1,000 employees on board. In fact, IKEA is the first major single brand retailer that caters to individual customers that successfully got Foreign Direct Investment (FDI) approval in India. In order to capitalise on that opportunity, the company plans on opening several stores in major cities across the country over the next 10 years.

Focusing on gender equality, IKEA India plans on creating 10,000 employment opportunities in Maharashtra

Bengaluru, State-run <keyword id="415634" type="COMPANY" weightage="20" keywordseo="Jawaharlal-Nehru-Planetarium">Jawaharlal Nehru Planetarium</keyword> in the <keyword id="24914" type="ORGANIZATION" weightage="20" keywordseo="City-centre">city centre</keyword> has made arrangements to watch the <keyword id="10465369" type="UNKNOWN" weightage="20" keywordseo="celestial-conjunction">celestial conjunction</keyword> of <keyword id="34757" type="LOCATION" weightage="20" keywordseo="Jupiter">Jupiter</keyword> and <keyword id="10465370" type="UNKNOWN" weightage="20" keywordseo="saturn-planets">Saturn planets</keyword> on Monday between 6.30-7.30 p.m., an official said on Sunday. "We have set up telescopes in our premises to watch the conjunction of Jupiter and Saturn on Monday evening if weather conditions permit," said the planetarium official in a statement here. Due to the Covid-induced restrictions on people gathering in large numbers in public places, those who register online to watch the <keyword id="862697" type="PERSON" weightage="20" keywordseo="celestial-event">celestial event</keyword> will be allowed in the planetarium in batches of limited numbers to maintain social distancing. "Those unable to watch the event at the planetarium due to curbs on crowding, can see the conjunction of the two stars online at our website (www.taralaya.org) or Facebook and Youtube channel," said the statement. As the <keyword id="10465371" type="UNKNOWN" weightage="20" keywordseo="fifth-planet">fifth planet</keyword> from the sun, Jupiter is the largest in the solar system, as a gas giant with a mass one-thousandth of the Sun. "As the sixth planet from the sun and second largest in the solar system, Saturn is a gas giant with an average radius of nine times that of earth," added the official. The conjunction also coincides with the longest day (December 21) in the year as the sun reaches a point where it appears to shine farthest to the south of equator over the Tropic of Capricorn, marking the start of the winter solstice. SEE ALSO: <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a> <a href="https://www.businessinsider.in/science/health/news/india-will-produce-300-million-doses-of-the-russian-sputnik-v-covid-19-vaccine-next-year/articleshow/79795341.cms">India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms">Mrs Bectors Food Specialities IPO allotment: Here’s how to check share allotment status</a>

Watch Jupiter-Saturn conjunction at Jawaharlal Nehru Planetarium in Bengaluru

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, As India's <keyword id="390059" type="PERSON" weightage="20" keywordseo="smartphone-market">smartphone market</keyword> registered a massive year-over-year (YoY) growth of 42% in October shipping 21 million units, 25% of the market sat in top tier cities -- New Delhi, <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword>, Bengaluru, <keyword id="12864" type="LOCATION" weightage="20" keywordseo="Chennai">Chennai</keyword>, and <keyword id="6354925" type="PERSON" weightage="20" keywordseo="kolkata">Kolkata</keyword> -- registering more than 50% YoY growth in October. According to the IDC, the next set of emerging markets, namely Jaipur, <keyword id="6361586" type="PERSON" weightage="20" keywordseo="Gurgaon">Gurgaon</keyword>, Chandigarh, Lucknow, Bhopal and Coimbatore, also grew by nearly 50% YoY. However, the rest of the states (up-country markets) registered slower growth (average 25%), primarily owing to looming economic concerns and consumer spending narrowing to essentials only, according to <keyword id="9841807" type="COMPANY" weightage="20" keywordseo="the-international-data-corporation">the International Data Corporation</keyword> (IDC) India Monthly Smartphone Tracker. The leading 50 cities accounted for 55% demand nationally. "Despite delayed deliveries due to restrictions in several zones, consumers went for online purchases, especially on third party e-Tailer platforms, registering 23% YoY growth with 50% share," the report showed. Bigger cities leaned heavily towards online channels, with 57% online share in the top 5 metros. "But supply constraints remained, impacting offline channel sales as a result of fewer retail walk-ins". While Xiaomi led in 34 of the major 50 cities within the online channel, Vivo led in 44 of the major 50 cities within the offline channel. Half a million 5G devices were sold, with almost 80% from the top 10 cities of India. "Though 5G is a driver from a technological advancement standpoint, uncertainties on spectrum availability, clear use cases and high prices might restrict its uptake to few bigger cities initially," said Sachin Mehta, Market Analyst, Client Devices, IDC India. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/wistron-apple-iphone-manufacturer-could-face-these-penalties-if-found-guilty/articleshow/79790319.cms">If investigators find Wistron management guilty, here's what is at stake for the company</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-say-if-you-should-subscribe-or-not-to-the-300-crore-ipo-of-antony-waste-handling-cell/articleshow/79790998.cms">Antony Waste Handling Cell ₹300-crore IPO will open on Monday— these are the risks and opportunities</a> <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a>

Delhi, Mumbai, Bengaluru, Chennai and Kolkata to capture 25% of smartphone market in October

<keyword id="6371031" type="COMPANY" weightage="100" keywordseo="Ikea">IKEA</keyword> will build a 400,000 square feet in Mumbai and has received a land parcel for the same, the Swedish <keyword id="6354386" type="UNKNOWN" weightage="100" keywordseo="Furniture">furniture</keyword> retailer said on Friday. 
 The 23-acre site in <keyword id="57321" type="PERSON" weightage="100" keywordseo="Navi-Mumbai">Navi Mumbai</keyword> is the second land parcel for IKEA in the country with the first being in Hyderabad. 
 "Maharashtra is one of the most important markets for IKEA. Along with setting up retail stores, we will expand our supplier landscape and grow local sourcing as much as possible," <keyword id="1412034" type="UNKNOWN" weightage="100" keywordseo="Juvencio-Maeztu">Juvencio Maeztu</keyword>, chief executive officer at IKEA India told Economic Times. 
 
According to Maeztu, each IKEA store will employ 500-700 workers directly and another 1,500 indirectly, engaged in providing services. "We are committed to having 50% women in our organisation at all levels and giving equal opportunities to all," he said. 
 
IKEA, which received government approval for its Rs 10,500 crore proposal to open fully owned retail stores in the country in 2013, plans to open 25 stores by 2025 in nine Indian cities including Bengaluru, Mumbai and Delhi-NCR. It recently signed a memorandum of understanding with Haryana government and said it will invest an estimated Rs 2,000 crore to open stores in the state. 
 
The company expects its Navi Mumbai store to attract more than 5 million visitors each year once it's operational. 
 
IKEA has been sourcing from India for the last 30 years and it plans to double its sourcing volumes by 2020. Through it 50 suppliers, IKEA today employs 45,000 people directly and about 400,000 in the extended supply chain. It has recently organized three "Make More in India" campaigns, including one in Mumbai to look for new suppliers.

IKEA gets 23,000 acre land in Navi Mumbai, to open 400,00 sqt feet store

Global <keyword id="792357" type="UNKNOWN" weightage="100" keywordseo="Home-furnishing">home furnishing</keyword> major <keyword id="6371031" type="COMPANY" weightage="100" keywordseo="Ikea">IKEA</keyword> is planning to double their sourcing as part of their retail expansion plans in the India. "India is a very important market for IKEA. It is the last big market for IKEA to enter and we believe that we can learn a lot from our expansion in the country, that will affect the whole company," IKEA Deputy Managing Director Range and Supply <keyword id="3019009" type="UNKNOWN" weightage="100" keywordseo="Catarina-Lowenadler">Catarina Lowenadler</keyword> told PTI. 

	The company is confident that India will influence its coming range development both in terms of design and price level, she added. 
 

	By 2020, the company will be doubling its purchase value from the current 350 million euros to 700 million euros, she said. 
 

	The new categories "we are looking to develop are mattresses, sofas and book shelves as well as new materials like jute, coconut fibres, mango and Bamboo," Lowenadler said. 
 

	The company has big retail plans for India and looks to open over 20 stores in the country by 2025 as a mid-term goal. 
 

	"Our mid-term goal is to open 25 stores by 2025. We have bought land in Hyderabad and expect to open our first store in 2017. We are also looking to open more stores in parallel in Delhi NCR, Mumbai and Bengaluru," she added. 
 In the next phase, the company will work on the second wave of cities such as Chennai, Pune, Ahmedabad, Surat and Kolkata, <keyword id="6429663" type="COMPANY" weightage="100" keywordseo="Ikea-India">IKEA India</keyword> Communications and Sustainability Manager Patrik Antoni said. 
	 
	(Image credits: Indiatimes)

India next big destination for IKEA

<a href="http://www.businessinsider.in/searchresult.cms?query=karnataka&amp;sortorder=effectivedate">Karnataka</a> just got a whole lot cooler as it prepares to play host to the country’s first all-women tech park. 
 
The site for this park is in a village located 40km south of <a href="http://www.businessinsider.in/searchresult.cms?query=bengaluru&amp;sortorder=effectivedate">Bengaluru</a> called Harohalli. 
 The tech park, which is an initiative of the Government of <keyword id="6354780" type="ENTERTAINMENT" weightage="100" keywordseo="Karnataka">Karnataka</keyword> has been launched as part of the proposed special incentives to encourage women entrepreneurs. 
 
Spread over 300 acres of government allotted land, the tech park will clock another first as it will be planned and designed by women architects and women contractors will take care of the construction as well. 
 
According to K Ratna Prabha, Additional Chief Secretary of Commerce and Industries Department, Government of Karnataka, the idea behind the state government wanting to create an exclusive tech park for women was to give women <a href="http://www.businessinsider.in/searchresult.cms?query=entrepreneurs&amp;sortorder=effectivedate">entrepreneurs</a> a much needed platform. 
 
He further added that the state government’s commerce and industries department has already received 56 applications over the past weeks from women entrepreneurs who have expressed a desire to set up shop at the park. 
 
He sees the park as a golden opportunity for women entrepreneurs who are in a rented facility and want to expand. 
 
Once completed, the park which has garnered a proposed investment of approximately Rs 135 crores will provide employment opportunities to about 2800 persons. 
 
There’s more. As it turns out, international girls such as Toyota, Ikea and Walmart have already expressed an interest in the park and this is evidence to the success the initiative has in store in the future. 
 
The tech park is proposed to be up and running by November 2016. 
 
Women entrepreneurs, it's time to rejoice! 
 
Image credit: Indiatimes

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