IKEA Group plans to open 25 stores over next 10 years in India. It also plans to double its sourcing from India to 600 million euros by 2020. The strategically-located, 13 acre store here is close to HITEC City, the IT hub. The next store will come up in Mumbai, where the company has purchased 24 acre land. IKEA is investing Rs. 700 crore on the Hyderabad store spread over 400,000 sq feet. It will hire 500 direct workers and provide 1,500 indirect jobs. IKEA also plans to double its sourcing from India for Indian and global IKEA stores by 2020. 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 home furnishing company will bring a fresh business opportunity for the signage companies whose jobs involve in in-shop graphics and branding activities.
