Bengaluru, Oct. 24 -- Ikea India Pvt. Ltd has leased 37,259 square feet in a shopping mall for its first store in Pune, as the Sweden-headquartered home furnishings retailer looks to expand its compact urban showroom footprint and ramp up its omnichannel presence.

The space is leased at Phoenix Marketcity mall in Pune's Viman Nagar Road for a five-year tenure. The starting monthly rent is around Rs.38 lakh. The deal was registered on 15 October, according to real estate data platform CRE Matrix.

In August, Ikea opened a 15,000 sq. ft store at Pacific Mall in New Delhi's Tagore Garden and announced plans to expand to Chennai and Pune as part of its next phase of growth.

It first announced its entry into India's retail market in 2013 aft...