Arvind Brands, which owns the value retail chain of stores — Megamart, plans to open 20 small and large format stores this fiscal. Speaking to IndiaRetailing, Suresh J, COO, Arvind Mass Brands, informed, “We are planning a total of 20 large and small format Megamart stores in 2009-2010. We’d largely be present in high street locations.”
Incidentally, Megamart also happens to be the anchor store at soon to be launched, Forum Value mall, in Bengaluru. Suresh further informed that the anchor tenant space of Megamart at Forum Value mall is 38,000 square feet. On being inquired about the cities where the new Megamart stores would be located, Suresh stated, “We have planned to open in a fairly large number of cities.” However, he did not share further details about the locations.
Commenting on shopping centre project delays and retailers being caught in a fix because of that, Suresh said, “Most of our projects are in high streets, hence we are not affected much by other project delays.”
— Bhavya Misra