Amidst an economic slump, IKEA and Miniso have missed their India targets

Two international retail brands that debuted in India with much fanfare over the past couple of years have missed their growth targets in the country. Experts believe their over-enthusiasm and the poor state of the economy could be the primary reasons. Last August, the world’s largest furniture retailer, IKEA, opened its first store in the southern Indian city of Hyderabad. The launch was spectacular, with 40,000 visitors on day-one alone. Buoyed, the Swedish company then said that it expected six million visitors within the first year.

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