Ikea Group buys land to set up shop in Bengaluru

BENGALURU: The Ikea Group, the Swedish home furnishings company, has acquired its first land parcel in Bengaluru. The 14 acre site in Bengaluru is strategically located in Nagasandra on Tumkur road and has been acquired from the Bangalore Metro Rail Corporation (BMRCL).

Juvencio Maeztu, chief executive officer, Ikea India, said: “Karnataka is a highly strategic and important market for Ikea. 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 Ikea store in Bengaluru is planned to be around 4.5 lakh square feet and is expected to have more than 5 million visitors per year. The store will be connected to the Nagasandra metro station for easy access as well as sustainable commute for customers.