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Sweden-based Ikea, one of the world’s largest furniture retailer, has opened its second store in India on Friday. The new store is located in Navi Mumbai and is its first big format store in Maharashtra.

The store, built on an area spanning over 5.3 lakh square feet is situated near Turbhe local railway station. Reports suggest that the store has over 7,000 varieties of home furnishing products.

IKEA will pump in ₹10,500 crore into its India unit⁠— ₹7,000 crore has already been spent in fulfillment centres and store, land acquisitions in the country. According to Dhupar, the next store will be opened in Bengaluru, followed by Gurugram, its first one in North India, which reportedly has been delayed because of the company’s revised plans for the city.

In line with its global strategy, the company is sticking to its planned store openings in India, and hasn’t changed its strategy, the Chief Financial Officer, Preet Dhupar, responsible for the market told Business Insider. “India is a growth market for us, this is where a big part of the world’s population lives with a majority of young people starting their journeys. We want to be a part of their journey. Few years down the line, IKEA India hopes to be one of the biggest markets for the global team,” she said.

The furniture, kitchen appliances and home accessories retailer has, so far, invested Rs7,000 crore in the country opening two stores and several fulfilment centres. While they are further aiming to invest Rs 6,000 crore in Maharashtra alone by 2030.