So does that mean u have a big bazaar, pantaloon, a mcdonalds, haldiram along with cinemax and be rest assured your mall is going to be successful? No had this been the case Ansal would not have been the way it is. Infact all malls have the anchor brands, food courts and cinemas. Issue is that Indians do not like to spend a lot of money on expensive and quality items. We are happy to spend money on buying a pair of jeans from Bigbazar at 50% disc for Rs. 700/- regardless of quality. On the contrary we will always buy daily groceries from the store next door and thats a fact which will remain.
The retail culture is yet to take off but is slowly catching up.
For a mall to succeed it all depends how willing are the promoters to manage it. GIP is managed well, Spice and Centrestage malls have improved their ops.
COming to the point, Bhasin group (as i am being told) are committed to managing the property. They have signed a 37 yr management contract for hotel.
Footfalls are very important in attracting the crowds. yes i agree sales is the only deciding factor but footfalls are the only way to identify and manage sales and hence i am again saying it all depends how the property is managed.
This property doesn't only have a mall like GIP, Spice etc, they have offices from 4th floor onwards upto 15th floor and a 18 store-yd 5-star hotel hence chances of it being run better are more, hopefully.
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MM
Last edited by Munish Malhautra; 22-08-10 at 04:58 PM.
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