Shopaholics be warned! Vegas Mall – with its innumerable retail experiences, the sheer opium of retail therapy – is coming up in the heart of Dwarka. The mall is a prime project of the Pratham Group, an initiative of three established and experienced groups – Unity Group, HL Group and RP Group.
Fashion ranges from pret to glam, footwear lines from casual to formal, jewellery designs from designer to exclusive, not to mention a select and chosen cluster of anchor stores, Vegas is set on a bid to unveil the best of stylish and iconic selections for consumers. The mall will house one of the largest hypermarkets in the city offering unlimited choice, comfort and convenience as well as Delhi’s first Megaplex, an entertainment zone par excellence – including a bowling alley and a gaming arcade – plus an ideal outdoor location for hosting events.
The mall, which is slated to come up by the third quarter of 2018 is a part of mixed-use land and will be fully operational by the end of 2018.
In an exclusive interview with IMAGES Retail Bureau, HV Bansal, Director, Vegas Mall revealed the mall’s strategies, retail mix and zoning. Excerpts from the chat…
Tell us about your location strategy. Why did you choose Dwarka in New Delhi?
Dwarka is a relatively new and planned city. It is a modern infrastructural landmark in terms of its planning, amenities and connectivity, housing the most aspiring population. Dwarka is known for its maintained infrastructure and is well connected through road, and the metro making it a hub of commercial and residential activity.
Dwarka and its neighbourhood areas are home to 5,00,000 families, 15,00,000 affluent citizens and boast of Rs 1000 crores+ spent every month on entertainment, food, clothing and outings. The population comprises of young professionals and despite demand, there has been no organised retail hub or cinema hall catering to the ever-growing needs of the evolving consumer in this area. So, we thought this is the perfect place to introduce a shopping mall, which will be a complete Family Entertainment Centre including a cinema hall and dining out options.
What’s your core catchment area?
Our primary catchment is the consumer residing in Dwarka – middle class, upper middle-class and of course, Millennials.
What is the GLA and total built-up area of the mall?
The GLA is 6.5 lakh sq. ft., while the total built up area is 2 million sq. ft.
Let’s talk about zoning. What’s your take on it and how have you divided your mall into zones?
The right tenant mix based on zoning attract shoppers, it gives them multiple choices on the same floor, and facilitates smooth movement within the mall. It’s the best way to avoid confusion for both shoppers as well as mall developers.
Vegas Mall will boast of bridge-to-luxury brands. We have divided the entire mall into four levels:
– The ground floor comprises of aspirational, international, fashion, accessories and beauty brands
– The first floor houses men’s wear brands
– The second floor is dedicated to women and kids wear
– And on the third floor we have a complete FEC including a cinema hall and a food court
Broadly speaking between 18 and 20 percent of the mall area is dedicated to a Family Entertainment, which is roughly 50,000 sq. ft. Out of this, FunCity occupies 25,000 sq. ft. The cinema hall occupies 12-13 percent of the mall area, while 55 percent is dedicated to fashion. The rest is divided between food and hypermarket.
The 650-seater foodcourt comprising of 18 different brands serving special cuisines is located on the top floor. We also have 10 specialty restaurants on the floor including Bar-Be-Que-Nation, Mamagoto, Social and Café Delhi Heights.
What is something unique that you are offering to the consumer of your catchment area?
We are focusing big-time on cinemas as there is no other cinema hall in the area. We have a 12-screen Superplex with all the formats including IMAX and 4DX.
Who are the anchor and key vanilla retailers of your mall?
Anchors retailers – Lifestyle, Spar Hypermarket, HnM, Zara, Pantaloons, Max. We are also expecting Westside and Croma to open stores in the mall.
Vanilla retailers – Nike, US Polo, adidas, Reebok, Puma, Pepe Jeans, Van Huesen, Arrow, Raymond and Blackberry.
What is your revenue arrangement with the retailers?
All the retailers are on the revenue sharing basis. We charge 15 percent from fashion and F&B brands and we will be charging between 5 and 6 percent from the hypermarket.
What steps have you taken towards introducing technology in your malls?
As far as implementing technology is concerned, we have tied up with Skidata for automatic parking, we have free WiFi zones and a mall radio to name a few.
What is your opinion on future of shopping malls in India?
Malls in India have a very bright future. Indians are very traditional in nature and consumers will take time getting used to online shopping. They like to touch and feel before they buy, and so physical retail will not go out of fashion anytime soon. Also, e-commerce cannot fulfill needs like being a family zone or for watching a movie. For this, consumers need to come out of their homes and head to the nearest mall!