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IKEA will open its first Pune store at Phoenix Marketcity, Viman Nagar, leasing 37,259 sq ft for ₹38 lakh monthly.
News18
IKEA is set to open its first physical store in Pune, marking its sixth in India. The company has leased 37,259 square feet of ground-floor space at Phoenix Marketcity in Viman Nagar, Pune, for a monthly rent of ₹38 lakh, according to Moneycontrol report. The lease agreement, valid for 59 months, includes a rent escalation clause that will increase the monthly rent to ₹42.70 lakh from the 37th month onward, the MC report added.
This new store will follow IKEA’s “city store” format, which is a compact retail model designed for urban centers. Similar to the company’s outlets in Mumbai’s Worli and Delhi’s Pacific Mall, the Pune store will offer curated product displays, digital ordering assistance, and a food and beverage section. This approach is part of IKEA’s broader omnichannel strategy, combining online convenience with offline customer engagement.
IKEA’s entry into Pune follows the company’s e-commerce launch in the city in January 2020. The new store aims to meet the growing demand from Pune’s residents, many of whom have been shopping online from IKEA’s Navi Mumbai store due to the cities’ proximity.
The Phoenix Marketcity mall, owned by Phoenix Mills Ltd., is one of Pune’s prominent shopping destinations. This development underscores the mall’s appeal to international retailers and reflects the city’s growing retail landscape.
IKEA, a Swedish furniture retailer company, had made its entry into Delhi by opening its first store in Pacific Mall, Tagore Garden. The store is part of IKEA India’s “One Click, 30 Minutes Away” model, designed to boost accessibility in high-footfall urban areas where sprawling outlets are not feasible.
IKEA’s new 15,000 sq ft outlet in West Delhi marked a shift from its typical large-format stores, which often span over 4.5 lakh sq ft.
IKEA India CEO Susanne Pulverer said as quoted by The Indian Express that the city store format complements the company’s other channels. “Online is our base, complemented by large stores like those in Hyderabad, Navi Mumbai, and Bengaluru. We’re building two more in Gurugram and Noida. Then we have city stores, which can be closer to customers in shopping centres and other areas,” she said.
The Swedish retailer debuted its city store concept in India in late 2021 with an 80,000 sq ft outlet in Mumbai’s Worli. More recently, it introduced a “Plan and Order Point” in East Bengaluru to provide personalised home planning and design services.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
October 25, 2025, 16:20 IST
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