IKEA India Private Limited, a Swedish home furnishings giant, has opened its first store in Pune's Phoenix Marketcity Mall which spans over 32,000 sq ft. As IKEA's sixth outlet in India, this store aims to provide Pune residents with convenient access to affordable, and high-quality home furnishing solutions.

• Located on Viman Nagar Road in Phoenix Marketcity Mall, the retail space on the ground floor is leased for almost 5 years (four years and 11 months) for a total rent of ₹23.54 crore.
• The rent per month of the space leased is ₹38.11 lakh for the initial three years, which will increase up to ₹42.69 lakh for the rest of the term.
• The monthly rent started from February 22, 2026, following a rent-free period from September 2025 to February 21, 2026.
• The agreement between the company and Vamona Developers Private Limited of Phoenix Mills Ltd was signed on October 15, 2025.
• The firm paid ₹6,26,800 for stamp duty and ₹1,000 to register the transaction, according to the documents.

1. HITEC City in Hyderabad - store opened on August 9, 2018

2. Turbhe in Navi Mumbai - store opened on December 18, 2020

3. Worli in Mumbai - store opened on December 9, 2021

4. Nagasandra in Bengaluru - store opened on June 22, 2022

5. Pacific Mall, Tagore Garden in New Delhi - store opened on August 13, 2025

6. Phoenix Marketcity in Pune - store opened on March 12, 2026

Due to high customer demand in Pune city, it is considered an important market for IKEA, as per the company. After IKEA's e-commerce presence in the city, the customers have shown keen interest in the brand to explore its entire range of more than 6,500 home furnishing products online, meeting modern home solutions.

In 2025, IKEA India had launched a city store format in New Delhi in Pacific Mall, Tagore Garden, and is aiming to expand its footprint in cities such as Gurugram and Noida to open large-format stores in the future.