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IKEA Group announced the acquisition of its first land parcel in Bengaluru

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by Staff Writer
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IKEA Group announced the acquisition of its first land parcel in Bengaluru

IKEA Group announced the acquisition of its first land parcel in Bengaluru, which will be IKEA’s third one in India after Hyderabad and Mumbai. The 14 acres site in Bengaluru is located in Nagasandra on Tumkur road and was acquired from the Bangalore Metro Rail Corporation. It is planned to be around 4.5 lakh sq-ft and will be connected to the Nagasandra metro station. Chief executive officer, IKEA India, Juvencio Maeztu, said, “Along with retail stores, IKEA’s Purchasing team will also grow local sourcing and engage with local artisan and communities in many projects.  Our first Indian sofa supplier is from Karnataka supplying to our global stores.” The first IKEA India store in Hyderabad will open early next year.