IKEA, world’s largest furniture retailer, has recently purchased its first land in India, in Hyderabad, moving closer to its plan of setting up 25 stores in India at an investment of Rs 10,500 crore over the next decade. This step of the company is yet another affirmation of IKEA’s expansion plans in the country. The company is in parallel evaluating suitable sites in the cities of Bengaluru, Mumbai, and Delhi NCR (National Capital Region) to open 25 stores in the long-term. IKEA bought 13 acre land close to the IT hub in Hyderabad’s HITEC city. In May 2013, the government cleared the proposal of the Swedish furniture major to invest Rs 10,500 crore for setting up single brand retail stores. Now, signage companies can roll up their sleeves to tap this new bushiness opportunity surfacing in the retail domain.
