Swedish furniture giant IKEA is preparing to make its first physical foray into Pune, choosing the prime location of Phoenix Marketcity Mall in Viman Nagar for its debut. The new store will occupy around 37,259 square feet of ground-floor retail space, making it a significant addition to Pune’s retail landscape. With a monthly rent of ₹38.11 lakh for the first 36 months, IKEA is signaling its confidence in Pune’s growing appetite for home furnishings and lifestyle products. The store is set to open after a detailed fit-out phase, expected to conclude by February 2026.
A Milestone for IKEA and Pune Residents
This move marks a major milestone for IKEA in India, especially in the context of Pune, where the company has already established a presence through online sales since 2020. A physical store allows customers to experience IKEA’s offerings firsthand. Shoppers can now touch, test, and explore a wide range of furniture and home décor products—something that online platforms cannot fully replicate. The new store will make shopping convenient for Pune residents who previously had to travel to Mumbai or Navi Mumbai for an IKEA experience. For the city, this is not just a new store—it is the arrival of a globally recognized brand that brings modern design, affordability, and innovative retail experiences under one roof.
Lease Details Highlight IKEA’s Commitment
The lease agreement for Phoenix Marketcity Mall underscores IKEA’s long-term commitment to Pune. The lease term is nearly five years, with rent starting at ₹38.11 lakh per month and rising to ₹42.69 lakh toward the end of the term. Common-area maintenance charges begin at ₹7.45 lakh monthly and are set to increase gradually. A security deposit of ₹2.28 crore and an additional maintenance deposit of ₹44.71 lakh ensures both parties are invested in the store’s success. The fit-out period will extend from September 2025 to February 2026, with the store expected to welcome customers starting February 22, 2026. These details reflect IKEA’s meticulous planning and strong belief in Pune’s retail potential.
What Shoppers Can Look Forward To
Pune residents can expect the full IKEA experience, featuring spacious showrooms designed to inspire and engage. From living room furniture and kitchen essentials to décor items and storage solutions, shoppers will have access to a complete range of products. The in-store experience offers convenience for families, young professionals, and home décor enthusiasts alike. Additionally, customers can benefit from easy delivery, assembly, and return services within the Pune area, combining the best of both offline and online experiences. IKEA’s entry is expected to not only elevate shopping experiences but also inspire the local furniture market, encouraging innovation and choice for consumers.
IKEA India has steadily expanded since opening its first store in Hyderabad in 2018, followed by stores in Navi Mumbai, Mumbai, Bengaluru, and Delhi. Pune now joins this growing list, reflecting IKEA’s confidence in India’s Tier-1 and Tier-2 cities. By opening in Phoenix Marketcity Mall, IKEA is not only enhancing its omnichannel strategy but also reinforcing its commitment to bringing quality, affordable, and stylish furniture closer to customers. For Pune residents, this launch is more than just a new store; it is an opportunity to explore modern home solutions in a hands-on, engaging, and convenient way.