[AD EXCLUSIVE] First look at the IKEA store in Hyderabad

At Ikea Hyderabad's 1000 Seat Restaurant Samosas Biryani And Dal Makhni

But that didn't stop him from walking through the doors of the Swedish furniture retailer's first store in India shortly after its grand opening on Thursday.

The Hyderabad store is spread across 13 acre and is located at the tech hub HITEC City under Cyberabad.

"IKEA seems to have managed to understand the Indian consumer and price its products accordingly", said Sowmya Adiraju, an analyst at research firm Euromonitor International. The world's largest furniture retailer is all set to open its Hyderabad store on August 9, the first of 25 it plans to open in India by 2025.

The Ikea India CEO Peter Betzel also said that India has a population of almost 500 million in the age group of 25-35 years, which is IKEA's target audience.

Many people were keen to invest in their homes and make changes in their living rooms, he said. "This is my first visit, and I'm just exploring. but I'm going to be here very often".

Ikea's launch comes at least 12 years after it started studying India.

The products displayed in concept room are not for pickup but the customers can note down the details to purchase them in the market hall.

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September 1, 2017: Times of India reports Ikea will invest Rs 8.1 billion ($120 million) in its Bengaluru store.

The 1,000-seater eatery, Ikea's biggest ever, will not offer pork or beef meatballs - for religious reasons - substituting chicken or vegetarian alternatives instead.

"The pace of opening stores in India will intensify", said Harminder Sahni, founder and managing director of consulting firm Wazir Advisors in Gurugram. "It's a big store and you need to have some energy boost halfway through". Against the backdrop, the company forecasts the Indian home sector to grow at a compound annual growth rate (CAGR) of 10.9% during 2016-2021 and reach ₹4.979 trillion by 2021. It also tailored 2,000 products from its range to suit Indian needs, taking into consideration climatic realities such as dust and humidity. One thousand products are priced below ₹200, the company said.

Ikea, which reported revenues of $39 billion in 2017 globally, exports €350 million of product from India and has 50-plus suppliers.

But Ikea, which has been planning its India entry since 2013, surely brings in a global understanding and will want to quickly learn how to win Indian customers.

November 2, 2017: Ikea announces the purchase of 10 acres of land in Gurugram (formerly Gurgaon) in the National Capital Region outside Delhi from the Haryana Urban Development Authority, and plans to build a 400,000 square-foot store with parking for 1,000 cars and a restaurant seating 1,000 people. The company, which has employed 950 people directly and another 1,500 indirectly at its store in Hyderabad, plans to hire 15,000 in the coming years as it expands operations in India.

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