IKEA to build 400,000 sq ft store in Navi Mumbai

Leading Swedish furniture manufacturer IKEA has recently announced that it would build a 400,000 sq ft store in Navi Mumbai on the 23 acre land it bought from TATA Group firm Rallis. The plot was bought for Rs 214 crore and the site is located in Turbhe, on the Thane Belapur Road here. IKEA plans to employ 500 people in the store and expects to have five million visitors a year. The plot in Navi Mumbai is the second land purchased by IKEA in the country after it bought a 13-acre plot near Hitech City in Hyderabad. The chain also plans to build a 400,000 sq ft store in Hyderabad. Such big development in the retail sector will be an added business opportunity for the signage players whose activities involve in in-store branding, designs and related tasks.