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Expanding Their Business In India, IKEA Just Acquired 10 Acres Of Land In Gurugram For Rs. 842 Crore


People of Gurugram should get ready to get lost inside IKEA now! I'm sure everyone has seen jokes and memes poking fun at the fact that you have to put together IKEA furniture yourself, like this : 

IKEA Buys 10 Acres Of Land In Gurugram For Rs 842 Crore© noitego

Or this : 

IKEA Buys 10 Acres Of Land In Gurugram For Rs 842 Crore© Twitter

And, obviously the iconic IKEA monkey. 

IKEA Buys 10 Acres Of Land In Gurugram For Rs 842 Crore© Twitter

Seems like a lot of people end up getting lost inside the store as well. 

IKEA Buys 10 Acres Of Land In Gurugram For Rs 842 Crore© Tumblr

And now, let's see how Indians will conquer the challenge that is to shop at IKEA, as the company is planning to open a lot of stores in the country. 

In the biggest deal to be struck by Huda, the Haryana government's development agency, as IKEA, the Swedish home furnishings company has recently purchased 10 acres of land in Gurugram for Rs 842 crore.

IKEA Buys 10 Acres Of Land In Gurugram For Rs 842 Crore© Reuters

And, this isn't the first investment IKEA has made in the country. Previously, the company has acquired land in Hyderabad, Mumbai and Bengaluru to set up stores.

Juvencio Maeztu, Chief Executive Officer, IKEA India, in a statement said, “Delhi NCR is a strategic market for IKEA and will be one of our biggest markets in India. Along with retail stores, we will also focus on growing local sourcing and engage with local artisans and communities in many projects.”

We can expect to see the first IKEA store in India early next year in Hyderabad, which will be followed by Mumbai in early 2019 and subsequently in Bangalore and Gurugram. 

IKEA Buys 10 Acres Of Land In Gurugram For Rs 842 Crore© Reuters

The land in Gurugram is located in Sec-47, and was acquired through an e-auction. In an effort to maximise local sourcing, IKEA is also in the process of growing the Indian manufacturing landscape. 

Reportedly, the Swedish firm, headquartered in the Netherlands, plans to open 25 stores in India by 2025 with an investment of â¹10,500 crore.

So, in a few short years, we all can see if getting lost inside an IKEA store is as easy as the internet makes it out to be. But, just look at the size of the stores, they're gigantic. 

IKEA Buys 10 Acres Of Land In Gurugram For Rs 842 Crore© IKEA

But, just imagine how fun doing this would this be. 

IKEA Buys 10 Acres Of Land In Gurugram For Rs 842 Crore

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