Two more retailers – Big Bazaar and Marks & Spencer – will soon open their outlets at Express Avenue, Chennai, the Express Infrastructure-promoted mall. While the Big Bazaar store will have an area of 85,000 sq.ft, the Marks & Spencer will be spread over 22,000 sq.ft area. The rental model with the two retailers is minimum guarantee or revenue sharing, whichever is higher.
“The rental model with Lifestyle International is minimum guarantee or revenue sharing percentage, whichever is higher,” said Dheeraj Dogra, chief marketing officer, Express Avenue.
The Express Avenue mall is approximately 90 per cent leased out, Dogra informed.
The seven-storey Express Avenue mall has been constructed at a cost of Rs.750 crore and the total area of the mall, including the parking space, is 1.5 million sq.ft. The other anchors of the mall include Max Lifestyle, Westside, Hamleys, Funcity, Satyam Cinemas, Odyssey, Sportxs, etc.
— IndiaRetailing Bureau