IKEA okay to spur retail rush

A large number of foreign single-brand retailers are chalking out their entry plans, following Swedish furniture retailer IKEA’s success in getting its entire Rs 10,500-crore proposal approved by the government.

According to commerce ministry officials, single-brand heavyweights such as America’s Fossil, French cookware maker Le Creuset, French sports goods giant Decathlon, Thailand-based luxury goods retailer Lotus Arts de Vivre and Italy’s pharma-nutrition business player Officina Farmaceutica Italiana are waiting to set up shop.

Source: IKEA okay to spur retail rush