IKEA (an acronym for the founder's name: Ingvar Kamprad, the name of his farm, Elmtaryd and his home town Agunnaryd) is a global phenomenon and IKEA India was a phenomenon just waiting to happen. Founded in 1943 by a 17 year old Swedish boy, the company has become known for it’s innovative, easy to assemble, trendy furniture. IKEA has about 415 stores in 49 countries and now it has one more: the brand’s flagship store opened up in Hyderabad.
Because of curbs on foreign investment into India until recently, IKEA has only now set up shop in India. After the massive Hyderabad store spread out over 4 lakh sq. ft., the company has plans to open stores in Mumbai, Bangalore and suburban Delhi. The excitement among IKEA employees as well as store visitors was really high when the store opened its doors for the first time on 9 August 2018.
In India, the concept of buying ready or ready to assemble furniture is still new. Most people still rely on traditional craftsperson or carpenters to make furniture as per requirements. For this reason, IKEA has employed people who would do the assembly for people making purchases.
One of the huge plus points of the brand for Indian consumers is the affordable price point. Those who have visited the store have commented on the size of the store, the variety of items available as well as the affordable prices of the products.
This is one of the ways in which IKEA called attention to its new presence in India: empty IKEA cartons doing the rounds on baggage conveyer belts, innovative publicity spots, autos with IKEA product images and a unique inauguration event at the store.
It looks like IKEA stores around the world. It will also have a food hall with the famed meat balls and items such as biryani.
People are extremely eager to take a look at the store. Thousands thronged the new store and there was a stampede like situation there! Barricades were set up to control people waiting to get in. One hates to think what the situation at the checkout will be like!
In the areas surrounding the store, there were traffic snarls with so many flocking to the store. So much so that the Cyberarbad police saw fit to issue a traffic advisory to those going in the direction.
Of course there is this interest in a new brand finally being launched in India. This sort of avid interest can be seen in other product launches as well. We know, for instance that people are known to wait hours or even days in line for a new Apple product. It is perhaps a me-first phenomenon? Now with social media giving us instant fame, this enthusiasm for showing off new acquisitions is even more acute!
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