REAL ESTATE

Hammacher Schlemmer NYC store to get makeover

BY Marianne Wilson

New York — Hammacher Schlemmer iconic midtown Manhattan store will undergo an extensive floor-to-ceiling renovation. It will reopen May 16.

The renovation of Hammacher Schlemmer’s landmark store will include new lighting, more modern display cases, and a new floor consisting of solid stone and hardwoods. The new store layout will provide more square footage for customers to peruse the latest gadgets and problem-solving products.

Hammacher Schlemmer opened its doors in 1848 in New York City’s Bowery district, and quickly became renowned as the definitive, most complete source for hard-to-find hardware in the country, if not the world. When they moved in 1926 to their current location at 147 E. 57th Street they began selling more refined goods that solved problems or were the only ones of their kind. Throughout their history they have been the first to offer many items that are now ubiquitous, including the first pop-up toaster.

"Our store has been at its current location for 87 years and we are committed to maintaining the finest shopping experience for our customers," said Hammacher Schlemmer’s general manager Fred Berns.

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REAL ESTATE

Ikea given approval to open stores in India

BY Katherine Boccaccio

Delhi, India — A Monday report by Bloomberg said that Ikea has received the go-ahead from the Indian government to open outlets in the country, making it perhaps the first major foreign retailer to set up its own stores in the region.

The Swedish furniture retailer was cleared by the Foreign Investment Promotion Board, according to a statement by Commerce Minister Anand Sharma. The approval is a turnaround for the Indian government which last year barred Ikea from operating cafes and limited retail wares it could sell in stores.

Ikea still awaits approval from the Indian Cabinet to proceed with its plan to invest up to $2 billion to set up stores, according to the report.

“We consider this as a very positive development,’’ Juvencio Maeztu, Ikea’s manager for India, told Bloomberg in an e-mailed statement. ‘‘We are now waiting for approval from the Cabinet and subsequently a notification so that we can initiate the process of establishing Ikea stores in the country.”

Ikea has announced it would open 25 stores in India.

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