Ikea to invest Rs 1,500 crore in Mumbai – Feedback

World’s largest furniture retailer Ikea is investing Rs 1,500 crore here as part of plans to have 25 stores across India by 2025 and its first store is likely to come up within 18 months in Navi Mumbai, an official said.

It is among the several companies including Amazon, Microsoft, Owens Corning and Emerson which have committed investments in Maharashtra, he said. “Ikea is starting to invest now. They have bought a big piece of land for Rs 400 crore in Navi Mumbai for their store,” said Apurva Chandra, Principal Secretary – Industries, Maharashtra government. The Swedish firm had previously announced it will open a store in Hyderabad in second half of 2017. Ikea is also scouting for land to set up stores in Bengaluru, Delhi and the NCR region. Chandra said Amazon is also investing in Maharashtra.

http://www.dnaindia.com/money/report-ikea-to-invest-rs-1500-crore-in-mumbai-2234079

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