Leading Swedish home furnishing retailer IKEA recently opened its largest store in India in Bengaluru, the capital of Karnataka.
IKEA Nagasandra Store in Bangalore Which opened on June 22, is IKEA’s fourth store in India. Three other IKEA stores are located in Hyderabad, Navi Mumbai and Worli City stores respectively.
The 4,60,000-square-foot IKEA store spread over 12.2 acres in Nagasandra features over 7,000 well-designed home furnishing products as well as more than 65 designed rooms set for at-home ideas and inspiration.
Wakefit, an online home solutions company owned by Ankit Garg and Chaitanya Ramalingagowda, meanwhile posted an adventure in the form of brass welcome to the international chain.
“Traffic is bad. The weather is wonderful, the best brew is at ToiT, the tastiest dosa is at CTR and the Ulsoor lake never freezes,” the ad began.
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Shameless advertisements and swag raved about Wakefit, which claimed to be the city’s ‘favourite home solutions company’.
with a planned investment of 3,000 crore in Karnataka, Ikea Bengaluru is expected to attract around 5 million visitors this year, the company said.
Wakefit has featured in several advertisements targeting the Swedish home furnishing company. The words ‘WakeFit Tricia’ mentioned in the one posted above can be seen on the pun in the name IKEA.
There have been several advertisements for #WakefitTrikea, which were in Swedish. The ad contains a QR code that also shows all the locations of the Wakefit offline store in Bengaluru.
Wakefit further took a dig at the fact that Ikea The store is located on the outskirts of Silicon Valley, India. Pointing to the traffic problem in Bengaluru, Wakefit said, “If you are looking for the best furniture in the city, all you have to do is go to our stores. They are not located on the outskirts of the city. Just saying ” The IKEA store is 17 kilometers from the city center.
Furthermore Wakefit also mentioned “For the best dosas, go to CTR; for the best sofas come Wakefit”.
This is not the first time that an advertisement for Wakefit has gone viral. Last time, the online furnishing company had made public about its plan to hire ‘sleep interns’ who would be offered stipends. 1 lakh, with a prize of Rs. 10 Lakh for Best Performer!
This time also the netizens were stunned by this advertisement.
IKEA has a global revenue of €41.9 billion and a brand value of $21 billion. Meanwhile, Wakefit, which was set up in 2016, has a valuation of $380 million (2,800 crore after its Series C funding in November 2021) and a revenue/turnover of $56.02 million (416 crore in FY21).
According to various estimates, Wakefit.co has a 2-3% share of the total mattress market, but with respect to the online sleep solutions space, it commands a market share of around 35-40%.