Home furnishings retailer, IKEA is focusing on opening different formats and ramping up its omni-channel presence. Its first India store in Hyderabad has completed five years of operations.

The firm intends to penetrate the market further, with the aim of being more affordable, accessible and sustainable. Emphasising more efficient use of land and space, many of the stores are likely to be compact as well as operate under different formats such as anchor unit in malls, while maintaining consistency in customer offerings.

Furthermore, the company is foraying into National Capital Region (NCR) and the firm's investment of Rs 10,500 crore is expected to be exhausted once the facilities at Gurugram and Noida are completed after 2027. Stores in Pune and Chennai are also part of its expansion plans, though these would be part of the next tranche of investment in India.

The Hyderabad store, which showcases over 9,000 products will remain the flagship, with the potential to emerge as an export hub and is likely to break even in one year.