News: India's dual advantage
(TNN 02/04/2006) Mumbai - Modern India is evolving very fast and catching up with the western world. High GDP growth and higher disposable incomes riding on the IT and BPO boom have added punch to changing lifestyle and profile of consumer demand and aspiration.
Till a few years ago, the number of brands operating in India was few as were the number of branded and organized retailers. However, all this is changing and much of that has happened in just the last 5 years and the organized retail segment as per KSA study is likely to grow to about 10% by 2010 from the present level of about 3%. Large scale shopping malls are the most visible sign of this.
Malls have been a part of most of the western world, Middle East and Singapore, and in India it is likely to happen in much less time at no more than 5 to 7 years. Sitting at the bottom of the learning curve, builders and developers here are leaping on the bandwagon without adequate knowledge of the dynamics of mall development .
In this scenario, Crown Interiorz mall has been planned with a scientific approach and is positioned as advance second phase mall with fusion of retail of lifestyle and interior products under one roof.
The developers Dr Rajesh Aeren and RS Gandhi with their past experience of having developed prime properties are well educated in the fine art of retail, and with the realization that for a successful model the developer cannot be static in thinking but has to visualize how business will be run for the next 20 years, have conceived of a new concept of a mall -a mall for both lifestyle and interior products.
Before defining the profile of the mall, KSA Technopak was engaged to do a detailed study of the catchment area, market surveys and also a serious study of the need gap of existent and also upcoming malls. On the recommendations of KSA, a value centric mall concept was conceived, reserving 2,25,000 sq. ft on 1st and 2nd floor for interior products for homes and offices and 3rd floor for 4 screen multiplex and food court.
To synergise the vision of the developers of a destination mall of 5,00,000 sq ft retail area with 2,00,000 sq. ft of parking space for 800 cars and high number of footfalls and conversion from the retailers’ perspective and needs and aspirations of consumers, a detailed retail mix focus of value proposition products has been adopted. According to Dr Rajesh Aeren,‘‘ Our mall has many USPs like size, location and concept.
In order to ensure that customers keep coming to the mall, its management will be very professional. We will work on the premise that the best customer is a repeat customer and will think of ways of attracting customers to the mall all the time. We also plan to have an exclusive artisans’ ‘haat’ like Dilli Haat for craftsmen to showcase their expertise ‘’. Adds RS Gandhi,‘‘ For the interiors customers, we have thought of many things.
We’ll have a product catalogue centre, an exclusive library on interiors and a building design resource centre having onsite professional interior designers , etc to guide people. We will also have model rooms, kitchens, etc where new products, etc can be displayed’’ . Any architect can plan plazas with larger gangways, good height, entry, exit, parking, etc.
The important thing is to know how the business of the mall goes. To synergistically develop the mall for multiple activities like retail, entertainment and leisure, Olivier Vidal of Swanke Hayden Connell Architects, USA was hired to develop the concept of the mall.
For detailed plans, architects Mathur, Kapre and Associates have been engaged. This double mall with its unique concept of fusion of lifestyle and interior products with mega size strategically located on Main Mathura Road, Faridabad just about 2 kms from the border of Delhi, when operational, shall add a new chapter in the lifestyle of people of Faridabad and surrounding areas.
Till a few years ago, the number of brands operating in India was few as were the number of branded and organized retailers. However, all this is changing and much of that has happened in just the last 5 years and the organized retail segment as per KSA study is likely to grow to about 10% by 2010 from the present level of about 3%. Large scale shopping malls are the most visible sign of this.
Malls have been a part of most of the western world, Middle East and Singapore, and in India it is likely to happen in much less time at no more than 5 to 7 years. Sitting at the bottom of the learning curve, builders and developers here are leaping on the bandwagon without adequate knowledge of the dynamics of mall development .
In this scenario, Crown Interiorz mall has been planned with a scientific approach and is positioned as advance second phase mall with fusion of retail of lifestyle and interior products under one roof.
The developers Dr Rajesh Aeren and RS Gandhi with their past experience of having developed prime properties are well educated in the fine art of retail, and with the realization that for a successful model the developer cannot be static in thinking but has to visualize how business will be run for the next 20 years, have conceived of a new concept of a mall -a mall for both lifestyle and interior products.
Before defining the profile of the mall, KSA Technopak was engaged to do a detailed study of the catchment area, market surveys and also a serious study of the need gap of existent and also upcoming malls. On the recommendations of KSA, a value centric mall concept was conceived, reserving 2,25,000 sq. ft on 1st and 2nd floor for interior products for homes and offices and 3rd floor for 4 screen multiplex and food court.
To synergise the vision of the developers of a destination mall of 5,00,000 sq ft retail area with 2,00,000 sq. ft of parking space for 800 cars and high number of footfalls and conversion from the retailers’ perspective and needs and aspirations of consumers, a detailed retail mix focus of value proposition products has been adopted. According to Dr Rajesh Aeren,‘‘ Our mall has many USPs like size, location and concept.
In order to ensure that customers keep coming to the mall, its management will be very professional. We will work on the premise that the best customer is a repeat customer and will think of ways of attracting customers to the mall all the time. We also plan to have an exclusive artisans’ ‘haat’ like Dilli Haat for craftsmen to showcase their expertise ‘’. Adds RS Gandhi,‘‘ For the interiors customers, we have thought of many things.
We’ll have a product catalogue centre, an exclusive library on interiors and a building design resource centre having onsite professional interior designers , etc to guide people. We will also have model rooms, kitchens, etc where new products, etc can be displayed’’ . Any architect can plan plazas with larger gangways, good height, entry, exit, parking, etc.
The important thing is to know how the business of the mall goes. To synergistically develop the mall for multiple activities like retail, entertainment and leisure, Olivier Vidal of Swanke Hayden Connell Architects, USA was hired to develop the concept of the mall.
For detailed plans, architects Mathur, Kapre and Associates have been engaged. This double mall with its unique concept of fusion of lifestyle and interior products with mega size strategically located on Main Mathura Road, Faridabad just about 2 kms from the border of Delhi, when operational, shall add a new chapter in the lifestyle of people of Faridabad and surrounding areas.
posted by InCar Group Press Room at 19:07
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