Nido Living, a new furniture retailer founded by leading Mitre 10 store owner Vinod Kumar, is set to open its first mega store in Auckland in Spring 2019, enabling it to become an established site well in advance of IKEA’s planned New Zealand launch
The 27,000 square metre megastore will cost around NZ$60mn to construct, according to NZ Herald, and the firm will launch its ecommerce offering prior to the physical store’s opening.
"We knew Ikea were going to come some time, even seven, eight, 10 years ago, when we knew the person who had got the franchise for Australia also had the franchise for New Zealand, so we knew one day they'd come but that actually wasn't a hindrance at all," Kumar said, NZ Herald reported.
"We believe in competition - it will be good for the public to have more choice, something Kiwis have not be entitled to for quite a while.”
The store will stock around 10,000 products, exceeding IKEA’s 7000-strong offering, and the firm plans to open further stores in Christchurch and Tauranga.
Kumar added: "This will be completely new for the country and because it is affordable I think Kiwis will love it. It will bring people to see it, for example if they come [to Auckland] to see the cricket or rugby."