Home Retail New brands to enter Magneto mall

    New brands to enter Magneto mall

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    Plenty of retailers such as Madame, Mufti, Panchavati Thali and Ritu Wears are ready to make their foray at Magneto mall, Raipur.

    Madame is tentatively supposed to open by July 15 while Ritu Wears, one of the key anchors of the mall, will start operating from September 2010. Average size of the vanilla retailers at Magneto mall will be around 10,000 sq.ft, whereas anchor retailers will occupy a retail space of 40,000 sq.ft.

    The mall has pure rental and revenue sharing with minimum guarantee model with the retailers.

    The average daily footfall at Magneto is 10,000 – between 6,000-7,000 on weekdays, which increases to 20,000-25,000 on weekends.

    Some of the key anchor tenants at Magneto are PVR, Westside, Bikano and Maruti Suzuki.

    The Magneto mall, Raipur, which became operational in February this year, is currently 50 per cent occupied and 70 per cent leased. The 10.35 lakh sq.ft property has been developed by Avinash Developers Pvt Ltd (ADPL).

    — IndiaRetailing Bureau