19-Aug-19, CNBC TV18
Swedish furniture firm IKEA is foraying into e-commerce with a launch of its online delivery system ahead of the opening of its first physical store in Mumbai.
Image: CNBC TV18
Reversing its previous strategy of launching the online market with the opening of the store, IKEA has confirmed that online shopping services will precede the physical store. The home furnishing giant will also open smaller stores across the country for distribution, pickup, and customer service purposes. "We have committed to invest Rs 10,500 crore in India." said IKEA India CEO Peter Betzel.
The distribution hub for the Mumbai online store will be located at Chakan, Pune, partnering with IndoSpace Industrial Park.