Ikea bets big on India but keeps meatballs off the menu

Furniture giant Ikea is set to open its first store and restaurant in India after years of trying but arguably its most famous item is off the menu—Swedish meatballs, reports AFP from Mumbai.

Ikea, the world’s biggest furniture retailer, will next month cut the ribbon on a massive 37,000 square metre outlet in the southern city of Hyderabad, complete with a 1,000-seater cafeteria.

The restaurant will be Ikea’s largest and will cater to local tastes, with religious sensitivities in India dictating that beef and pork, staples of Swedish meatballs, will not be served.

“There will be chicken meatballs and vegetarian balls,” Patrik Antoni, Ikea’s deputy country manager for India, told AFP during an interview in the Indian financial capital of Mumbai.

“Fifty percent of the food will be Swedish inspired, salmon and shrimp dishes and so on. We’ll also have quite a few Indian dishes like dal makhani, biryani, samosas,” he added.

The Swedish multinational, which revolutionised household furnishings with its range of affordable ready-to-assemble products, is betting big on India as it seeks new revenues away from its key Western markets.

Ikea plans to invest $1.5 billion in Asia’s third-largest economy as it seeks to lure price-sensitive Indians away from satisfying their furniture needs at local, family-run shops.

Ikea has already spent close to $750 million procuring sites for four stores, including the Hyderabad one which will open in July on a date that is yet to be announced.

Outlets in Mumbai, Bangalore and the capital New Delhi will follow, Antoni said, without putting a timescale on them. He added that Ikea will then look at Pune, Chennai, Ahmedabad, Surat and Kolkata.

“We are very bullish and excited about the Indian market. Normally, we would test a market by opening one store but in India, we are going all out and expanding,” said Antoni.

At 37,160 square metres the Hyderabad store will be comparable in size to an average Indian shopping mall. It will have 850 employees and is expected to attract several million visitors a year.

As well as its wide range of international items Ikea will also sell goods uniquely suited to the Indian market.

 

Ikea bets big on India but keeps meatballs off the menu

Furniture giant Ikea is set to open its first store and restaurant in India after years of trying but arguably its most famous item is off the menuSwedish meatballs, reports AFP from Mumbai. Ikea, the worlds biggest furniture retailer, will next month cut the ribbon on a massive 37,000 square metre outlet in the southern city of Hyderabad, complete with a 1,000-seater cafeteria. The restaurant will be Ikeas largest and will cater to local tastes, with religious sensitivities in India dictating that beef and pork, staples of Swedish meatballs, will not be served. There will be chicken meatballs and vegetarian balls, Patrik Antoni, Ikeas deputy country manager for India, told AFP during an interview in the Indian financial capital of Mumbai. Fifty percent of the food will be Swedish inspired, salmon and shrimp dishes and so on. Well also have quite a few Indian dishes like dal makhani, biryani, samosas, he added. The Swedish multinational, which revolutionised household furnishings with its range of affordable ready-to-assemble products, is betting big on India as it seeks new revenues away from its key Western markets. Ikea plans to invest $1.5 billion in Asias third-largest economy as it seeks to lure price-sensitive Indians away from satisfying their furniture needs at local, family-run shops. Ikea has already spent close to $750 million procuring sites for four stores, including the Hyderabad one which will open in July on a date that is yet to be announced. Outlets in Mumbai, Bangalore and the capital New Delhi will follow, Antoni said, without putting a timescale on them. He added that Ikea will then look at Pune, Chennai, Ahmedabad, Surat and Kolkata. We are very bullish and excited about the Indian market. Normally, we would test a market by opening one store but in India, we are going all out and expanding, said Antoni. At 37,160 square metres the Hyderabad store will be comparable in size to an average Indian shopping mall. It will have 850 employees and is expected to attract several million visitors a year. As well as its wide range of international items Ikea will also sell goods uniquely suited to the Indian market.