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IKEA’s first India store attracts 40,000 customers on first day

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ikea hyderabad

Hyderabad, Aug 10: The world’s leading Swedish home furnishings retailer ”IKEA” received a huge response from Indian customers on the opening day.

About 40,000 people visited Ikea’s first India store which was opened on Thursday (Aug 9) in Hyderabad.

Read More: Ikea launches its first India store in Hyderabad

The spokesperson, however, declined to share the numbers relating to the business transacted on the first day.

However, the response was in line with the expectations. Store manager John Achillea had stated that they were expecting 40,000 to 45,000 people.

With a huge crowd thronging the store in the evening, the IKEA staff found it a bit challenging to regulate the entry. There were also few tense moments when some people broke queue to force their entry.

Drawn by the aggressive marketing campaign including advertisements with the prices of affordable products, a large number of visitors from several parts of the city thronged the store.

Many were curious to see the offering from an international brand. They were seen checking the price tag and feeling the products like beds, mattresses and chairs.

As the sprawling store has come up in the heart of HITEC City, the majority of the customers were techies from information technology companies. There were many expatriates and the Indians who earlier lived abroad and knew the brand.

Several visitors were seen in the 1,000-seater restaurant, which is the biggest for IKEA in its global network.

The 400,000 sq.ft store offers 7,500 products including 1,000 products priced below Rs 200.

Half of its restaurant menu will consist of vegetarian options, including idli and sambar, samosa and vegetable biryani, sourced from about 25 vendors, mainly women-led social enterprises.

Ikea restaurant will be open from 9:30 am to 10:30 pm every day. Ikea Hyderabad will also be witnessing Smaland, a creche, so that shoppers can enjoy shopping while their children can be safe. Kids from 3-10 years old can spend up to 1 hour in Ikea’s free supervised creche right at the Ikea Hyderabad store.

The first India store of IKEA was opened with an investment of Rs.1,000 crore, five years after the world’s largest single brand retailer received government approval in 2013 to invest Rs 10,500 crore to open 25 stores in India by 2025.

The company now revised the number of stores to 40 across all formats.

IKEA’s next store will open in Navi Mumbai in next summer, followed by Bengaluru and Delhi. In the next phase, IKEA would cover Ahmedabad, Surat, Pune, Chennai and Kolkatta.

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Markets open high on Wednesday

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Sensex equity Nifty

Mumbai, Oct 17: The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.

The Sensex of the BSE opened at 35,543.38 points, touched a high of 35,605.43 and a low of 35,457.83, after closing at 35,162.48 points on Tuesday.

The Sensex is trading at 35,461.98 points up by 298.61 points or 0.85 per cent.

On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 10,688.70 points after closing at 10,584.75 points on Tuesday.

The Nifty is trading at 10,672.60 points in the morning.

IANS

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ICPA seeks ‘one rank one pay’ for AI pilots

According to ICPA, from October 2017, the Air India management had started paying a section of wide-body pilots an ad-hoc amount at par with the new proposal which is yet to be approved by the ministry.

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New Delhi, Oct 17 ; The Indian Commercial Pilots’ Association (ICPA) on Tuesday sought ‘one rank one pay’ for all the pilots of the national passenger carrier Air India.

In a letter to Civil Aviation Minister Suresh Prabhu, ICPA urged the ministry to address the pilots’ pay parity issue which is the legacy of Air India-Indian Airlines merger that took place more than a decade ago.

According to ICPA, from October 2017, the Air India management had started paying a section of wide-body pilots an ad-hoc amount at par with the new proposal which is yet to be approved by the ministry.

The letter alleges that half of the flying allowance paid to wide-body pilots is still being paid in fixed US dollar exchange rate of Rs 45.50, while the present US dollar exchange rate has reached an all time high of Rs 74.

As per the letter, while majority of Air India pilots are paid international layover subsistence allowance on actual international night stops ($200), a section of wide body pilots continue to receive a fixed monthly international layover allowance irrespective of number of international night stops undertaken.

“We fail to understand as to why the top management has turned a blind eye to this issue which is bleeding the national carrier of high value foreign exchange,” the October 16 letter said.

“In spite of being in the know of the US dollars being paid to these pilots at an exchange rate of INR 45.50, the Director (Operations) has taken no initiative to correct the wrong for reasons best known to him,” it said.

IANS

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Sensex opens 140 points up, Nifty at 11,550

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Mumbai, Oct 16: The 30-scrip S&P BSE Sensex on Tuesday opened in the positive territory tracking similar cues from its Asian peers.

Healthy buying was witnessed in auto, healthcare and capital goods counters.

The Sensex of the BSE opened at 35,004.33 points from its previous close at 34,865.10 points on Monday.

At 9.20 a.m., the Sensex traded at 35,006.10 points up by 141 points or 0.40 per cent.

The broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 10,550.15 points after closing at 10,512.50 points.

The Nifty traded at 10,545.00 points during the morning trade session, up 32.50 points and 0.31 per cent.

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