Ingka Centers, part of the Ingka Group – which manages the retail operations of the important Swedish furniture Ikea, announced on Tuesday the opening of a shopping center in Gurugram, with an investment of around 400 million euros. euros (around Rs 3,300 crore). “As construction begins in early 2022, the new meeting place is expected to generate more than 2,500 jobs and help further growth in organized retail in India,” said a statement from the Ingka Group.
The move of Ingka Centers to India is part of its strategy to expand into new markets and shape a portfolio of retail-oriented destinations that are fit for the future, he added. The new shopping center, which will be developed under the new Livat brand, a Swedish word meaning “a lively event”, would have a gross area of 130,000 square meters.
It will also complement Ikea’s plans to enter Noida, as announced earlier this year. Livat Gurugram will also respond to the growing population of Gurugram and Delhi NCR and is expected to welcome over 20 million people per year who will come to shop, work, eat, exercise, learn and socialize.
“Ingka Centers’ 52nd meeting place will offer a dynamic mix of hospitality, food and drink, ‘entertainment’ learning spaces, as well as a wide retail offering anchored by an IKEA store. It is developed to act as a local community center, with spaces for festivals and exhibitions throughout the year, “he said. Livat Gurugram will reflect best practices in energy and water efficiency .
Commenting on the development, Ingka Centers CEO Cindy Andersen said, “We know that when it comes to retail and leisure, change is the only constant. This is why our first Livat meeting place in India will be adaptable, with multiple offerings to match consumers’ lifestyles in the future. We want to create destinations that make it easier for people to live, happier, healthier and more sustainable lifestyles, that will be our goal at Gurugram. While IKEA India CEO and CSO Peter Betzel said, “We are happy to announce our IKEA store in Gurugram with Ingka centers. India is an exciting country for IKEA, and we have a long-term commitment to reach as many people as possible with our omnichannel. approach. Delhi NCR will be one of our biggest and most important markets in India. The statement also quoted the Chief Minister of Haryana, Manohar Lal Khattar, welcoming the IKEA and Ingka centers to his state. “We look forward to this partnership with IKEA and Ingka Centers to build an organized retail business and meet the growing needs of consumers in the state and region. The government is committed to providing the best support to facilitate a smooth flow of investment in the state. This project will not only establish Gurugram as one of the newest shopping destinations, but will also provide jobs in the area, ”said Khattar.
Ingka Centers, part of the Ingka group, has a portfolio of 47 shopping centers in 16 markets. Ingka Group is the largest IKEA retailer and accounts for around 90 percent of IKEA retail sales. It has retail operations in 32 markets.
IKEA India, part of the Ingka Group, opened its first retail store in Hyderabad in August 2018, followed by a store in the Navi Mumbai store in December 2020.