IKEA to open first Pune store at Phoenix Marketcity, Viman Nagar.
Leased 37,259 sq. ft. for a ₹38 lakh monthly rent, rising after three years.
Store to follow “city store” format, expanding IKEA’s omnichannel reach in India.
Pune, 25 October 2025: Swedish home furnishing brand IKEA is set to open its first store in Pune, marking its sixth physical outlet in India. The company has leased 37,259 square feet at Phoenix Marketcity Mall in Viman Nagar, one of the city’s busiest shopping destinations.
According to registration documents accessed by CRE Matrix, the lease is valid for 59 months, with a starting monthly rent of ₹38 lakh, which will increase to ₹42.7 lakh from the 37th month onward. The store will be located on the ground floor of the mall, owned by Phoenix Mills Ltd, which also operates several prominent malls across India, including those in Mumbai, Bengaluru, Indore, and Wakad.
The upcoming Pune outlet will follow IKEA’s “city store” format, a more compact version of its large-format stores, offering an accessible shopping experience in urban centres. This will be IKEA’s sixth store in India, following major outlets in Hyderabad, Bengaluru, and Navi Mumbai, and smaller city stores in Worli (Mumbai) and Pacific Mall (Delhi).
IKEA said Pune has been an important market for the company, noting that its online operations began here in January 2020, making it the second Indian city to access IKEA’s full online range. Many Pune customers have also visited the Navi Mumbai store due to its proximity.
“Pune has shown strong demand for IKEA products since the start. We are excited to bring a more dynamic experience through a city store and create a true omnichannel presence,” an IKEA spokesperson said.
