Ikea to lay foundation for first Indian store in Hyderabad on August 11

Posted on:12 Aug 2016 09:23:57

Ikea to lay foundation for first Indian store in Hyderabad on August 11
12 August 2016 Current Affairs GK: Ikea, a global leader in retail furniture, will lay the foundation stone here next month for its first store in India that will open next year. 

Ikea is performing ground-breaking and laying of foundation stone for its first Indian store on August 11. After completion of the construction, the outlet is expected to open somewhere in July-August next year .

According to the official, the Swedish firm is planning to build a 400,000 square foot store here, which will also include a 1,000-seater restaurant serving Swedish cuisine, besides Indian and others. 

Ikea India's CEO Juvencio Maeztu along with other senior officials of the company are expected to attend the event .

kea had earlier said it has purchased 13 acres of land parcel to build retail store .

The site is close to the IT hub in Hyderabad's HITEC city, and within easy access to public transport and next to an upcoming Metro line. 

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