Future Group works on mall model

Friday, 27 May 2011

With an aim to reduce its operational costs, and to help cope with growing land and material prices, Future Group is working on a new mall model which will be profitable to all involved parties – land owners, mall owners, developers and retailers. The model aims at being economically viable and retailer friendly, making malls cost-effective and safe. Some of the new features would be the use of natural and green building materials, energy efficiency and a 100 per cent lease model. The concept will be tested in the next 12 to 15 months in Mumbai, Hyderabad and Kolkata. The size of the malls will range between 2,50,000 sq. ft. and 4,50,000 sq. ft. If the concept succeeds, the model will be further implemented in other cities.

Meanwhile the Future Group has signed up Percept, an entertainment, media and communications company. The 50:50 joint venture partnership will enable them to launch ‘Bollywood Retail’. It will focus on providing the Bollywood experience and Bollywood merchandising within the Future Group’s retail network. The joint venture will independently source Bollywood intellectual property rights and software from Percept’s Bollywood Corporation and use retail infrastructure from Future Group. The touch of Bollywood in the joint venture will please the consumers while spending.

Related News

Related Websites