Ikea expects 5 million footfalls in Hyderabad outlet in first

Swedish furniture maker Ikea Thursday said it expects to witness five million footfalls in its outlet here during the first year of its opening against the estimated seven million.

Describing India as "price-sensitive" market, Hyderabad Store Manager, Ikea India, John Achillea also said as of now the outlet sold half a million packs of four-spoon set.

Ikea opened its first Indian outlet here on August 9 here.

"We have seen amazing response from Hyderabadi locals. We see thousands of people coming to the store. They are coming from all other cities of the country. it has been a great learning experience.

"Our ambition is to have more footfalls. Original number which we are looking at was seven million and we are around 5 million for a year," he told reporters.

The home furnishing company is launching a textile collection which is "made in India and inspired by India" named "Anglatarar" Friday.

The Indo-Swedish design collectionwas unveiled in a press conference Thursday.

To a query, Achillea said the Mumbai store would open during the current calendar year followed by Bangalore in 24 months from now.

He said 95 per cent of Ikea's products were common and only five per cent of them would be unique to the country.

Declining to reveal sales volumes, he said the city store would "push 80,000 square metres of products" this year.

"People here they love value for money.. We have a colour spoons set of four for Rs 15.

We sold nearly half a million of those in 6 months. There is no store in the world that has sold that kind of volume," he said.

Replying to another question on sourcing from India, he said they would fulfil the mandatory requirements.