Competition and Industry News
Here’s a sneak peek into IKEA’s first India store in Hyderabadedit
After 12 long years since its initial proposal, Swedish retail giant IKEA is all set to make its India foray. The first of 4 stores will come up later this month in Hyderabad; and the city is abuzz with excitement for what’s in store.
Publication: CNBC TV18 (Online)
Date: July 6, 2018
Ahead of Hyderabad store opening, IKEA launches Indian websiteedit
Days ahead of its first store opening in India, IKEA Friday launched a website just for Indian customers — ikea.in. The Swedish group sells ready-to-assemble furniture, kitchen appliances and home accessories. IKEA, which will open its first outlet in Hitech City in Hyderabad on July 19, is known for its sprawling stores, which even include cafeterias. The website details the company’s culture and values and what it will offer Indian customers.
Publication: The Indian Express (Online)
Date: July 6, 2018
PE firm TPG set to put $40 mn in Livspaceedit
Private equity giant TPG is set to make $40 million investment in online home design startup Livspace, striking its second consumer internet deal in India, people directly aware of the matter said. Livspace, founded by Anuj Srivastava and Ramakant Sharma, offers shoppable designs for all rooms, which can be selected from the website and customised with assistance from interior designers. Home Interior Designs E-commerce, which runs the startup, has raised a total of about $28 million from investors like Bessemer and Helion Venture Partners till date.
Publication: Times of India (Online)
Date: July 6, 2018