Swedish companies in final stages of store rollout

While multi-brand global retailers may still be contemplating their decision to enter India

after the Delhi government declared its firm stand against allowing multi-brand FDI in the state, Swedish single-brand retailers like Ikea and H&M are said to be in final stages of finalizing their India plans. While Ikea’s Rs 10,500-crores investment proposal is the biggest in the sector, followed by H&M's Rs 700 crores, both have passed through several grilling sessions of government questioning before getting the final approval.

According to sources, fashion chain H&M, which competes with brands such as Spain's Zara in Europe, will open doors to its first store in New Delhi's Select City Mall by March or April. It is speculated that the company has plans to open three stores in 2014. As per its proposal, the company wants to open 50 stores in India.

Furniture chain Ikea, on the other hand, the first big-ticket global proposal in single-brand retail, is looking at emerging areas of Noida, next to New Delhi, to launch its first India store, which may become operational by 2016 followed by next store opening at another emerging area near the Capital - Gurgaon.