IKEA to build 400k-sq ft store in Navi Mumbai – Feedback

Swedish furniture giant IKEA said on Friday 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 in March this year.

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. It, however, did not say when it would open its store here. “The company in parallel is evaluating suitable sites in the cities of Bengaluru, Mumbai and Delhi national capital region, and plans to open 25 stores in India by 2025,” IKEA stated. The plot in Navi Mumbai is the second land purchase done by IKEA in the country after it bought an 13-acre plot near Hitech City in Hyderabad. The chain also plans to build a 400,000 sq ft store in Hyderabad.

http://www.business-standard.com/article/companies/ikea-to-build-400-000-sq-ft-store-in-navi-mumbai-116052001059_1.html

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