IKEA Group plans to open 25 stores over the next 10 years in India. The strategically-located, 13 acre store is located close to HITEC City in Hyderabad. The next store of the same format will come up in Mumbai, where the company has purchased 24 acre land. IKEA is investing Rs. 700 cr on the Hyderabad store spreading over 400,000 sq ft. IKEA also plans to double its sourcing from India for Indian and global IKEA stores. The current volume of sourcing is 300 million euros. About 70 percent of the current sourcing is in textiles and rugs. Such move of the Swedes home furnishing company will bring a fresh business opportunity for the signage companies whose jobs involve in in-shop graphics and branding activities.
