MALL
Live mannequin display of woman at Dubai mall sparks debate over ethical marketing: Viral Video
A Dubai clothing store, Manto Bride, sparked controversy by employing a live model, Angelina, to pose as a mannequin at its storefront in Dubai Festival City Mall. The stunt, which Angelina shared on Instagram and TikTok, quickly went viral, amassing hundreds of thousands of views and generating mixed reactions online. Critics labeled the display as "inhuman" and "modern-day slavery," while others praised it as innovative marketing.
Fire breaks out at Logix Mall in Noida Sector-32, Uttar Pradesh
Noida DCP Ram Badan Singh told ANI, "At around 11 AM, we got information that a fire broke out at a showroom in Logix Mall. Fire tenders and Police reached the site immediately. Fire has been brought under control. No one has been injured in the incident. Smoke inside the mall is being taken out with the help of machines..."
Reliance Retail sets the ball rolling on delivery in an hour, starts pilot service in Mumbai, Navi Mumbai
Reliance Retail's Mumbai delivery service aims for quick fulfillment in 30-45 minutes, integrating with kirana stores for wider reach. The company is utilising tech platforms like FYND and Locus for efficient operations.
Flexible workspace operator Spring House leases 300,000 sq fr at MVN Aero One mall in Gurgaon
Spring House secured 300,000 sq ft at Gurgaon's MVN Aero One mall, offering cost-effective office spaces. The location caters to diverse demands, including from large enterprises and startups focusing on research and development operations.
Elante Mall: 10-year-old boy dies after toy train compartment overturns
In a tragic incident reported by police on Monday, a 10-year-old boy lost his life when the compartment of a toy train he was riding overturned at a mall in Chandigarh. The incident occurred on Saturday night at Elante Mall, where the boy and his family, visiting from Balachaur in Nawanshahr, Punjab, were enjoying their outing, officials stated. CCTV footage capturing the incident has been circulating on various social media platforms.
It was ‘closing’ time for many retailers in FY24; V-Mart, W, Aurelia among cos that downed more shutters
Retail chains like Pantaloons, Spencer's Retail, and Nature's Basket have closed down more stores in 2023-24 than they opened new ones, leading to a drop in their total store count. V-Mart Retail, W, Aurelia, and Titan Eye+ had higher store closures than openings in the January to March quarter. Pantaloons store count dropped from 431 in FY23 to 417 in FY24, with 33 stores closed to improve network quality.
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Fire breaks out at Kolkata's Acropolis Mall, no casualties reported
The fire at the mall in broke out around 12.15 pm, officials said. "As of now, there is no report of any injury. Firefighting operations are underway. Some firefighters have entered the building wearing oxygen masks," an official told PTI. The entire area was engulfed in smoke and traffic movement in front of the mall has been regulated, a senior officer of Kolkata Traffic Police said.
Mall developers see opportunity in tier 2 cities
Brands include H&M, Marks & Spencer, GAP and Tasva set up shop in cities like Indore, Mangalore, Patna, Ranchi, Mysore, and Coimbatore, according to data from real estate consultancy CBRE.
Investors rejoice: Surakshit Nivesh Yojna (PDPMY Phase-2) launches at Delhi Mall Complex
Raheja Developers launches Surakshit Nivesh Yojna (PDPMY Phase-2) at Delhi Mall Complex, offering investment opportunities with shop sizes from 40-150 Sq. Ft. and special benefits for senior citizens and women.
Moving car catches fire in Thane, 11 escape unharmed
A multi-purpose utility vehicle (MUV) carrying eleven individuals, including five children, caught fire in Thane, Maharashtra. The driver noticed the fire while and managed to bring the vehicle to a stop. All occupants escaped unharmed before the vehicle was engulfed in flames near Viviana Mall on the Eastern Expressway. Firefighters extinguished the fire within half an hour, but the MUV was destroyed.
GIP Mall of Noida among properties attached by ED in cheating case
The Enforcement Directorate seized assets worth Rs 290 crore from an amusement company accused of defrauding investors of over Rs 400 crore. The company allegedly promised space allotments but failed to deliver, diverting funds for personal gain. Properties, including spaces in GIP Mall, were provisionally attached under the Prevention of Money-laundering Act
IHCL opens 86-key Ginger hotel in Nagpur
IHCL opened an 86-key Ginger hotel in Nagpur near Dr Babasaheb Ambedkar Airport, offering seamless connectivity to the new metro line. The opening aligns with IHCL's vision of establishing a presence in key commercial centres.
Hyundai sets up EV charging station in Chennai, plans 100 facilities across Tamil Nadu
Hyundai Motor India Limited inaugurates its first fast electric-powered vehicles charging station in Chennai, as part of a plan to install 100 such facilities across Tamil Nadu.
Nexus REIT in talks to buy Marina Mall in Chennai
Nexus Select Trust in talks to acquire The Marina Mall in Chennai, developing a diverse portfolio with Grade-A malls in Hyderabad. Plans to double assets to 20M sq ft in 5 years, reflecting India's retail growth and mall consumption surge.
India's biggest mall coming soon in Delhi: Location, opening date, area, shops, other info
In 2027, IGIA's Aerocity is set to boast India's largest mall, according to a report by The Times of India's Saurabh Sinha. Currently, Lucknow's Lulu Mall is the biggest in India, followed by Noida's DLF Mall of India.
Devyani, PVR Inox form JV to develop food courts in malls
Devyani International has formed a 51:49 joint venture with multiplex operator PVR Inox to develop and operate food courts within shopping malls in India. The companies have no consideration exchanged and will invest in the proposed company's share capital in a 51:49 ratio. Existing food court businesses will not be part of the proposed company's business until the expiry, termination, or renewal of contracts.
PVR Inox inks pact with Devyani International for development and operation of food courts in India
PVR Inox and QSR operator Devyani International have agreed to form a new company to develop and manage food courts in India's shopping malls. The company will invest 51:49 in its share capital, and existing food court businesses will not be part of the company until contract expiry or renewal.
Why offline shopping needs to be far more experiential
Big retail in India needs reinvention. The mall as a massive real estate complex is an American idea that goes back to a combination of consumer boom, timescape, landscape and culture that suited the West rather than India. Mall culture is changing in the West itself.
Fashion companies' dull show worries Nexus Select
The concerns are weighing on Nexus as India's first publicly listed retail Real Estate Investment Trust (REIT) is looking to invest Rs 1,000 crore in acquiring three malls in Hyderabad to grow the total portfolio to 20 malls and 11 million sq ft.
Why touchy-feely consumerism is here to stay and also thrive
The surge in e-commerce once signaled the demise of brick-and-mortar stores, but a notable shift is occurring as D2C companies expand offline. The trend extends beyond smartphones to FMCG and banking, with consumers favoring physical stores for premium items. Retailers are adapting by enhancing store sizes to provide immersive shopping experiences.
Nexus Select leases 1.1 million sq ft retail space in FY24, records highest occupancy
Blackstone-backed Nexus Select Trust, India’s first listed retail REIT, achieved a record 97.6% occupancy in FY 2023-24. The trust is set to acquire three Hyderabad malls, financing through debt, aiming for asset portfolio growth.
Nexus to add three malls in portfolio with an investment of Rs 1,000 crore
Nexus Select Trust, India's first publicly listed retail REIT, is looking to invest Rs 1,000 crore in acquiring three malls in Hyderabad to increase its portfolio to 20 malls and 11 million sq ft. The company's performance of fashion brands is a concern, as they contribute 50% of its business. However, other categories like electronics and beauty are growing by 18-20%, helping Nexus achieve its target.
Behind ghost shopping malls, a new consumer trend glimmers
Ghost shopping malls with a vacancy rate of 40% or higher in 2023 are on the rise, with a 59% year-on-year increase in top 8 metros, resulting in 13.3 million sqft of retail space remaining vacant. The loss in value amounts to $800 million. High-grade malls are thriving due to premiumisation and a focus on consumer experience, leading to larger store sizes and better shopping experiences. New factory outlet malls are also set to surge in India.
Delhi's Aerocity near IGI airport to get India's largest mall, spanning over 28 lakh sqft
By 2027, Indira Gandhi International Airport's Aerocity will get India's largest mall, spanning over 28 lakh square feet. This $2.5 billion expansion marks the initial phase in creating India's first aerotropolis, expected to grow significantly over the next five years. Upon completion, Aerocity will feature extensive commercial space, a mega mall, and public areas, fostering a bustling business district.
Bhumika group to develop 3 lakh sq ft of retail space with government
Bhumika Group, Rajasthan's largest mall developer, expanding retail spaces in NCR. Urban Square Mall in Udaipur fully occupied with top brands. Second phase launch imminent, reflecting strong industry credibility and financial stability.
Number of ghost malls rising in India, Delhi NCR tops the list, followed by Mumbai, Bengaluru: Report
Knight Frank India's recent report reveals a notable rise in ghost shopping malls, with 64 such malls identified in 2023 compared to 57 in 2022. These malls, characterized by a vacancy rate exceeding 40%, saw a 58% increase in area, reaching 13.3 million square feet. The report highlights the challenges faced by Grade C assets and ghost shopping centers, emphasizing the need for landlords to rejuvenate or divest such properties.
Ghost shopping centers’ space in top 8 Indian cities surge 59% to 13.3 million sq ft
The number of such centers have risen to 64 by the end of 2023 from over 57 the previous year. Consequently, Knight Frank India estimates a loss of value amounting to Rs 6,700 crore in 2023.
Kishore Biyani's daughters Ashni and Avni to re-enter retail space
Foodstories will be an 8000-sq ft retail format dining café that will also sell a wholly organic estate-to-cup coffee program, a single-origin chocolate experience, bespoke cheese, single-origin spices and dry fruits, farm-sourced fruits and vegetables. Avni Biyani said, “We’re building a community and platform for the dedicated entrepreneurs, growers, farmers, artisans, and food lovers.”
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