IKEA India is expanding its presence in Pune with a new 37,000 sq ft store at Phoenix Marketcity Mall, Viman Nagar Road! This strategic move marks a significant step in the company’s urban expansion strategy, strengthening its retail footprint in western India.
The lease agreement, spanning 4 years and 11 months, is valued at โน23.54 crore, with a starting monthly rent of โน38.11 lakh. IKEA will also pay common area maintenance charges and has paid a security deposit of โน2.28 crore.
Pune is a priority market for IKEA India, with strong demand for its products since launching e-commerce presence in January 2020. The new store will enhance IKEA’s omnichannel presence, offering customers over 6,500 affordable home furnishing products.
This expansion is part of IKEA’s steady growth in India, with existing stores in Hyderabad, Navi Mumbai, Mumbai, and Bengaluru. Plans for large-format stores in Gurugram and Noida are underway, reflecting IKEA’s commitment to growing its urban presence.
Despite previous operational losses, IKEA India expects sales to grow over 10% in the 2025 financial year, driven by its omnichannel strategy and growing demand for modern home solutions.
Image Courtesy: Phoenix Marketcity Mall
