Moving further to help retail fraternity, India’s two leading firms Cushman & Wakefield and Technopak have entered into a strategic alliance to work on a single unified platform for end-to-end retail services, according to a C&W press release.
Sanjay Verma, executive managing director, South Asia, C&W, said, “This partnership is a landmark step within the retail services sector and will help us better position ourselves to provide continued success in one of the fastest growing industries in India.”
He added, “This partnership also forms a key component of our long-term strategy to further expand our retail services and strengthen our real estate portfolio in India.”
Arvind Singhal, chairman, Technopak, said, “Our partnership is geared up to redefine retail services delivery through our unique commitment towards knowledge, strategy, advice and execution. Our combined expertise of end-to-end seamless solutions will allow our clients to make the most informed decisions based on thorough, real-time market intelligence and real estate solutions.”
C&W believes that with this partnership they would collectively have a market share of over 50 per cent in the retail services sector. Also, it will enhance its capabilities to extend knowledge base for retail industry by providing access to Technopak’s retail strategy and consulting services, while enabling Technopak’s clients to access C&W’s global platform of real estate market intelligence, management expertise and a broad range of real estate services.
Meanwhile, the company estimates that by 2012 the total demand for retail space will be around 95 million square feet with the majority demand being concentrated in the tier I cities.
— IndiaRetailing Bureau