Swedish home furnishings chain IKEA has announced its signing of an MoU with the Gujarat government to set up its stores in the state with an expected investment of up to Rs 3,000 crore in the long term. IKEA received the state government’s approval in 2013 for its Rs 10,500-crore proposal to open retail stores under 100 percent FDI, Earlier, the company had signed MoUs with Karnataka, Telangana, Maharashtra, Uttar Pradesh and Haryana to open retail stores. The company plans to open 25 stores by 2025 in nine Indian cities. According to a source, Ahmedabad and Surat are the priority cities for IKEA now. IKEA’s retail expansion plan is an added business opportunity for the signage companies whose activities involve in in-store branding and such related projects.
