IKEA, the largest furniture retailer, finally launched their showroom in India after a fair amount of struggle. The opening was initially intercepted in 2006 due to the Indian restrictions on foreign investment. The rules were later relaxed.
When it finally opened on 9 August, a staggering number of 40,000 customers visited the store on the first day.
The Swedish Ambassador, Klas Molin, attended the opening ceremony along with the Information Technology, Municipal Administration and Urban Development (MAUD,) Textiles and NRI Affairs Minister of Telengana, K Taraka Rama Rao.
Situated on a 13 acre land on the outskirts of Hyderabad with over 7,500 products on sale, IKEA expects over six million consumers to visit the store every year. By employing over 950 people at its Hyderabad store, IKEA aims at creating over 1,500 additional jobs.
To suit the Indian market, the Swedish brand has made various alterations as the average annual salary in India is less than $2000. The changes include the sale of idli making appliances, as well as spice boxes for people who, according to John Achillea, Store Manager, have “big aspirations for their homes and small wallets.” For example, a cutlery set for kids costs only Rs. 131. There are over 1,000 items on sale for less than Rs. 200.
The store includes a 1,000-seat cafeteria that is among the largest in India. There have been changes made to the classic IKEA menu. For example, the Swedish meatballs have been replaced by Samosas, Biryani, and Dal Makhani.
The lack of “Do It Yourself” (DIY) culture and the abundant amount of cheap labour available, the company has partnered with UrbanClap, an application that connects handymen with customers, to provide more services.
IKEA plans to expand in India over the next few years with stores in Bangalore, Mumbai and a suburb of New Delhi. It has invested over Rs. 10 billion and plans to hire over 15,000 employees in the country by 2025. IKEA said half of its Indian team of workers would be women.
IKEA is going to revolutionise the furniture industry as most of the Indian consumers buy non-brand furniture. Its major competitors currently range from Godrej Interio, Future Group’s HomeTown to Durian Furnitures.
Spotted this morning on the conveyor belt at Hyderabad airport: lots of #Ikea cartons. All empty. Just announcing that the first Ikea store in India opens today! How cool is that. Take a bow – whoever thought of this innovation. And welcome to India @IKEAIndiapic.twitter.com/9YkrTgdZtq
Bengaluru-based investment bank IndigoEdge, in partnership with entrepreneur Hitesh Ahuja, has launched PixelSky Capital, a secondaries fund targeting INR 400 crore. The fund will invest in eight late-stage tech and consumer companies expected to go public within three to four years, with cheque sizes of INR 40–50 crore each. PixelSky has already invested in beauty retailer Purplle and aims to close a second deal by June 2025.
The fund focuses on secondary transactions, allowing existing shareholders to sell stakes to new investors, providing liquidity ahead of IPOs. Founders have committed INR 10–15 crore, with additional capital coming from domestic family offices and startup founders. Final close is expected by March 2026.
Led by Hitesh Ahuja, who sold his foodtech startup Yumlane in 2023, and IndigoEdge cofounder Zerin Rahiman, PixelSky marks IndigoEdge’s expansion from advisory and proprietary investments into fund management. The firm has facilitated over 150 transactions worth around $3 billion and invested INR 25–30 crore as a limited partner in multiple VC funds. PixelSky is currently evaluating about 20 companies before finalizing its portfolio
Meta is developing its first true AR glasses, set to launch in 2027. Before the public release, employees will test the device starting in 2024. The company is also releasing new generations of Ray-Ban smart glasses in 2023 and 2025 with enhanced features like a “viewfinder” display.
Specifications and Features
The AR glasses are expected to feature OLED displays and Qualcomm Snapdragon chipsets, offering sophisticated AR and AI capabilities. They will enable users to interact with virtual objects and project high-quality holograms of avatars onto the real world.
Design and Competition
Meta aims for a sleek design, potentially building on its Ray-Ban partnerships. The AR glasses market is competitive, with Apple and Google also investing heavily. Meta seeks to make its AR glasses a game-changer by offering a unique user experience.
Future Plans
In addition to AR glasses, Meta is expanding its VR offerings with new headsets like the Quest 3 and exploring other wearable technologies. The company is focused on reducing costs to make the AR glasses more consumer-friendly by launch.
MobiKwik is venturing into the stock broking sector with the launch of its subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), following approval from the Ministry of Corporate Affairs on March 3, 2025. This move aims to diversify MobiKwik’s offerings beyond its core digital payments services and compete with established players like Zerodha and Groww.
MSBPL will provide a range of brokerage services, including trading in shares, securities, commodities, and derivatives. The subsidiary has an initial capital of Rs 1 lakh, with plans for an additional Rs 2 crore investment to support its operations.
As MobiKwik enters this competitive market, it brings a substantial user base of 172 million and a merchant network of 5 million. Despite recent financial challenges, including a reported loss of Rs 55.2 crore in Q3 FY25, the company aims to leverage its existing infrastructure and user engagement to capture a share of the growing investment technology market, projected to reach $74 billion by 2030.
This strategic expansion aligns with MobiKwik’s broader goals of enhancing its financial service