IKEA unveils first India store in Hyderabad

Swedish multinational home furnishing retailer IKEA has opened its first India store in Hyderabad. The store was opened amidst cheerful IKEA management and staff with the ribbon cutting by a customer. It is located on a 13 acre site and spanning 4 lakh sq ft of built up space has stocked more than 7,500 items. The IKEA Group, which had taken approval to set up 25 stores in India with an outlay of Rs 10,500 crores, has thus far invested about Rs 4,500 crores and is considering seeking government nod to hike investments by presenting a new plan. It has already acquired land at Navi Mumbai, Gurugram and Bengaluru and has begun work on the Mumbai property, which is expected to be ready by summer of 2019. IKEA brings a big business opportunity for the signage companies whose activities involve in in-store branding and display projects.