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IKEA opened first store in India with 37,000 m 2 (400,000 sq ft) in Hyderabad on 9 August 2018. [106] IKEA opened its second store in Navi Mumbai on 18 December 2020, [107] and its third outlet and first smaller format "city-store" in Worli, Mumbai on 9 December 2021. [108] IKEA plans to have 30 stores by 2028.
The majority of IKEA stores are located outside of city centres, primarily because of land cost and traffic access. Smaller store formats have been unsuccessfully tested in the past (the "midi" concept in the early 1990s, which was tested in Ottawa and Heerlen with 9,300 m 2 (100,000 sq ft), or a "boutique" shop in Manhattan).
Originally Worli was a separate island, one of the Seven Islands of Bombay which were ceded by the Portuguese to England in 1661; it was linked up with the other islands in the 19th century. In the 1990s, a group of terrorists attacked a building in Worli as well as major buildings in the city. [2]
IKEA continues to have a large corporate presence there. [3] [4] A museum of IKEA's history, the IKEA Museum, opened in the town on 30 June 2016. [5] It was constructed to present the history of IKEA. [6] Visitors to Älmhult can also experience the IKEA Hotel, which opened in 1964. It is near IKEA's offices and opposite the IKEA Museum.
The foundation owns the private Dutch company INGKA Holding, based in Leiden, which is the holding company that controls 372 of the 432 outlets of IKEA. [6]In an explanation of IKEA's complex corporate structure, Ingvar Kamprad stated to the authors of a Swedish documentary that tax efficiency was "a natural part of the company's low-cost culture". [2]
CBD Belapur is a Central Business District of Mumbai Metropolitan Region after Vashi, Bandra-Kurla Complex, Nariman Point and Worli. CBD Belapur has been growing since the 1990s, [ citation needed ] and is now home to colleges as well as a number of technology businesses.