News: Indian shoppers set for mall-a-mall weekly
(TNN 30/05/2006) New Delhi - After the spurt in the number of discount stores, the new concept making way into India’s retail space is discount malls. With retail heavyweights such as the Hiranandanis, Essel Group and Vatika Group of companies planning to make their foray, some small players have already made a beginning.
Mall goers, can therefore, look forward to discounted rates ranging from 25-60%, while they shop for their favourite brands under one roof. Discount malls would primarily constitute of factory outlets of various brands in categories such as apparel, cosmetics, electronics et al. Some existing names in this space are KK Bazaar in Pune and Huma Mall in Mumbai.
Spurred by international success many Indian builders are now betting big on these specialised malls. The concept behind a discount mall is to get the surplus production of leading brands and eliminate the middleman. One such mall coming up in Mumbai is Orchard Road Mall by Royal Palms Estates.
“Our mall is designed keeping in mind the issue of location and overhead cost vital to factory outlet concept at the same time complementing existing distribution streams for maximum revenue generation,” says Dilawar Nensey, joint managing director, Royal Palms Estates.
Orchard Road Mall is designed with four distinct areas, two housing all the brand outlets, one that functions as a food court and for hosting cultural events and one housing the anchor tenant — HomeMakers.
“We would be offering space in our malls on an ownership basis at an affordable price so that they benefit from the marginal costs and give consumers a discounted price,” he adds. Provogue is one such brand, which has already insured its presence in Orchard Road Mall.
Property consultants Knight Frank India estimate around 10 such discount malls to come up in the next 2 years in cities like Mumbai, Delhi, Chennai and Bangalore.
“Although this concept has been around for a while internationally, there is no such format in place in India as such. But with many builders showing an interest in such consumption centres we expect a rise in number of these malls,” says Prakrit Mehta, head of retail division, Knight Frank India.
When contacted, the Vatika Group spokesperson said that the finances of the discount mall project are yet to be finalised but the process is under way. “We are into malls in a big way right now and discount malls would be one such foray,” he says.
An existing player in the discount mall space is Huma Malls, which houses factory outlets of brands like Nike, Adidas, Wrangler amongst others is planning another two malls in Thane and south Mumbai very soon.
“We offer discounts in the range of 25-60% and during festival time there is a flat 50% discount on all brands,” says Mohammad Khalid Sidiqui, CEO of Huma Mall.
Mall goers, can therefore, look forward to discounted rates ranging from 25-60%, while they shop for their favourite brands under one roof. Discount malls would primarily constitute of factory outlets of various brands in categories such as apparel, cosmetics, electronics et al. Some existing names in this space are KK Bazaar in Pune and Huma Mall in Mumbai.
Spurred by international success many Indian builders are now betting big on these specialised malls. The concept behind a discount mall is to get the surplus production of leading brands and eliminate the middleman. One such mall coming up in Mumbai is Orchard Road Mall by Royal Palms Estates.
“Our mall is designed keeping in mind the issue of location and overhead cost vital to factory outlet concept at the same time complementing existing distribution streams for maximum revenue generation,” says Dilawar Nensey, joint managing director, Royal Palms Estates.
Orchard Road Mall is designed with four distinct areas, two housing all the brand outlets, one that functions as a food court and for hosting cultural events and one housing the anchor tenant — HomeMakers.
“We would be offering space in our malls on an ownership basis at an affordable price so that they benefit from the marginal costs and give consumers a discounted price,” he adds. Provogue is one such brand, which has already insured its presence in Orchard Road Mall.
Property consultants Knight Frank India estimate around 10 such discount malls to come up in the next 2 years in cities like Mumbai, Delhi, Chennai and Bangalore.
“Although this concept has been around for a while internationally, there is no such format in place in India as such. But with many builders showing an interest in such consumption centres we expect a rise in number of these malls,” says Prakrit Mehta, head of retail division, Knight Frank India.
When contacted, the Vatika Group spokesperson said that the finances of the discount mall project are yet to be finalised but the process is under way. “We are into malls in a big way right now and discount malls would be one such foray,” he says.
An existing player in the discount mall space is Huma Malls, which houses factory outlets of brands like Nike, Adidas, Wrangler amongst others is planning another two malls in Thane and south Mumbai very soon.
“We offer discounts in the range of 25-60% and during festival time there is a flat 50% discount on all brands,” says Mohammad Khalid Sidiqui, CEO of Huma Mall.
posted by InCar Group Press Room at 15:51
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