Buoyed by a million or so footfalls each month at its two premium properties in the national capital – the Promenade and the Emporio – DLF is planning to set up another luxury mall in the Delhi/NCR region, a senior company official has said.
Talking on the sidelines of an event to mark the third anniversary of the launch of DLF Promenade in Delhi, Pushpa Bector, Senior Vice President with DLF Utilities who also heads the property, said: “We are very happy with the performance of DLF Promenade and are planning to set up another such mall with high-end premium brands in the Delhi/NCR region. We are going to formally announce this in the next few months. We have got land banks at the right places for this.” She declined to give further details.
The Indian government has recently allowed 100 percent foreign investment in single-brand retail, a move that may see some of the world’s premium brands enter the country in the next couple of years. This is likely to give a fillip to the fortunes of the mall developers as the new entrants look for quality retail spaces.
Bector said the Indian mall market is a good one provided developers pursue a long-term vision and are willing to invest in the regular maintenance and upkeep of their properties. She stated: “To be successful, mall developers have to actively try to grow the market. India is not a place where you can develop something and then expect it to automatically do well. Developers have to take an intensive, long-term approach and organize initiatives with their retail partners to ensure that business of every stakeholder grows.”
In the metros, there have been some pockets which have experienced erratic and irrational growth in the number of malls but that phenomenon has stopped now, Bector said. “The mall growth happening in India now is quite well researched and modulated,” she added.
DLF Promenade’s third anniversary on February 9, 2012, saw actress Kalki Koechlin unveil a quarterly magazine for the mall called “Promenade.” A new loyalty scheme called the Perks Programme was also launched. The mall management gave awards to mall retailers in a couple of categories. “The last three years have seen DLF Promenade grow from strength-to-strength and become a leader in the segment of premium fashion malls. Today, we enjoy a mix of customers who are loyal, fashionable and high spenders,” Bector said.
Each issue of the “DLF Promenade” magazine, targeted at men and women aged 18 to 45, will be dispatched to the mall’s database of customers to let them know about the happenings at the property. For awards, the three-month long process followed by the mall decided two winners. Zara and Mango won with the maximum number of nominations for the Best Customer Service and the Best Visual Merchandising category, respectively. “DLF Promenade is proud of a healthy relationship with its retail partners. The Awards Ceremony was an effort to recognise the support our brand partners have been offering us over the years. This will be an annual ceremony and we hope to see some healthy competition between our retail partners,” said Bector.
Under the loyalty program, shoppers who spend Rs 2,000 to Rs 20,000 at the mall will get a 10 percent value-back voucher, which can be availed on the next purchase at partner brands such as Oliver, Label by Ritu Kumar, Celio, Clarks, Gini & Jony, and Om Book Shop.