IKEA keen on setting up shop in UP

Swedish furniture chain IKEA, which proposes to invest around Rs 10,500 crore in India, has expressed willingness to set up their first integrated unit for furniture manufacturing and selling in Uttar Pradesh.

Representatives of the Swedish furniture chain IKEA met Principal Secretary, Infrastructure and Industrial Development Department, Surya Pratap Singh on Wednesday expressing willingness to set up their first integrated unit for furniture manufacturing and selling in the state, an official spokesman said here.

During meeting, it was informed that IKEA planned to establish its stores in four states and UP was high on their priority. It was agreed that the IKEA officials would visit Noida and Greater Noida early next month to see for themselves the infrastructure and identify appropriate site, he said.

Communication manager India of IKEA, Patrik Antony, made a presentation through a short film on the business concept and strategy of IKEA.

It was informed that at present IKEA had 342 stores across the world with 1,54,000 co-workers and turnover of around Euros 27.5 billion.

A model IKEA store comprises of showroom, market hall and self-service warehouse along with a restaurant.