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IKEA is set to open its first physical store in Pune, marking its sixth in India. The company has leased 37,259 square feet of ground-floor space at Phoenix Marketcity in Viman Nagar, Pune, for a monthly rent of ₹38 lakh, according to Moneycontrol report. The lease agreement, valid for 59 months, includes a rent escalation clause that will increase the monthly rent to ₹42.70 lakh from the 37th month onward, the MC report added. This new store will follow IKEA’s “city store" format, which is a compact retail model designed for urban centers. Similar to the company’s outlets in Mumbai’s Worli and Delhi’s Pacific Mall, the Pune store will offer curated product displays, digital ordering assistance, and a food and beverage section. This approach is part of IKEA’s bro

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