Making the best of the shopping sentiment in Bangalore, several retailers have strengthened their presence in the city.
In the last one month alone, about two million sq feet of retail space
spanning across malls, hypermarkets and apparel outlets were added to
the city’s retail landscape.
The 1.4 million sq ft-lifestyle destination mall Phoenix Marketcity was
launched during the Diwali week to cash in on the festive spirit.
“Bangalore needed a global mall with a lot of retail depth and a design
that gave the consumer a shopping experience like no other. The city has
been waiting for a mall like Phoenix Marketcity and we expected between
30,000-35,000 footfalls and are extremely happy to say that we have
gone beyond our expectations,” says Mr Atul Ruia, Managing Director,
Phoenix Mills Ltd.
Inmark Retail Pvt Ltd launched the first of a chain of retail outlets in
Bangalore during the same week offering a USP of ‘high fashion at low
price.’ Inmark’s apparel stock will be designed and rolled out by Scotts
Garments which is a Bangalore-based manufacturer and exporter of 30
brands of fashionwear. Scott’s brands are exported to the US and Europe.
Aditya Birla Retail launched its 60,000 sq ft hypermarket in the city
last week, adding to its chain of 118 supermarkets and one hypermarket
in the State. The retail chain plans to add three more hypermarkets in
Bangalore in the next few months. During the week, Arvind Retail Ltd
launched its hypermarket brand Megamart. The 10,000 sq ft fashion store
offers retail space for international brands.
According to Beyond SquareFeet, a mall advisory firm, the State will
have a total of 10.4 million sq ft of gross leasable area. “Bangalore
has the lead position with an explosion of organised retail space. The
city has witnessed many large and varied concept malls mixed with
contemporary brands and upward mobile young shoppers and entry of
international brands in apparel category,” says Mr Susil Dungarwal,
Founder and Chief Mall Mechanic of the advisory firm.
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