IKEA acquires 14-acre plot in Bengaluru for third India store

Store will directly employ 500-700 people, half of them women, and create 1,500 jobs indirectly

Swedish retail giant IKEA has acquired a fourteen-acre plot on the outskirts of north Bengaluru to set up its third store in the country, which will potentially employ over 2,000 workers in the city.

"Karnataka is a highly strategic and important market for IKEA. Along with retail stores, IKEA's purchasing team will also grow local sourcing and engage with local artisan and communities in many projects," said Juvencio Maeztu, chief executive of IKEA India, in a statement.

The land, acquired from Bangalore Metro Rail Corporation Ltd, is near the Nagasandra metro station, in line with IKEA's plan of customers using