Hyderabad: After leading Swedish home furnishing company Ikea, the UAE’s Danube Home is also entering the Indian market. Like Ikea, Danube Home — the home furnishing arm of Danube Group — is also opening its first store in Hyderabad.
On a day when Ikea announced the formal opening of its first India store in the IT hub of HITEC City, a top Telangana government official said Danube will open its first store in September. Danube has taken leased premises to open up at Kothaguda, near HITEC City.
Jayesh Ranjan, principal secretary of Industry & Commerce, Government of Telangana, said investment and other details would be known soon. A Danube Home official had said in May that they are looking to expand in the Gulf Cooperation Council (GCC) countries and also entering the Indian market with an investment of Dh300 million.
Adel Sajan, director, Danube Group, was quoted in a media report saying that India is a huge market and they can open up to 25-30 stores in five years, as India’s economy and the middle income class population is rapidly growing.
The company currently has 25-plus stores across the Middle East and North Africa region. In May, it opened its ninth and biggest showroom in Abu Dhabi, spanning over 75,000 sqft with 30,000 home furnishing products.