To create a unique identity for the Magarpatta City mall, Pune – different from the 700-acre residential-cum-industrial settlement with the same name – it has been rechristened as ‘Seasons’.
“We have decided to name the mall as ‘Seasons’ and hope to create a totally different and individual identity for the mall. We wanted a name that would appeal to the senses of the masses and bring a sense of well-being. With Seasons, we are taking an entirely different approach of an integrated branding system where the name will be reflected throughout the mall, even extending it to its marketing collaterals, etc,” says Zaheer Bandukwalla, director, Urban Link Consulting Ltd.
On why the mall was earlier being referred to as the Magarpatta City mall, he says, “The mall was never meant to be branded as Magarpatta City. It was being ‘referred’ to as the Magarpatta City mall, as it is located in Magarpatta City, Pune.”
The mall, with a gross leasable area of 6,50,000 sq.ft and a built-up area of 1.7 million sq.ft, is expected to start trading from April 2011.
“Retailers such as Croma (14,000 sq.ft), Benetton (3,200 sq.ft), Sisley (1,100 sq.ft), Turtle (700 sq.ft) and Archies (750 sq.ft) have already booked their space in the mall. Also, Bata Ltd has signed up for two stores at Seasons,” says Bandukwalla.
“All retailers, including anchors, will become operational by April 2011. We have already leased out over 50 per cent of the mall space, while we expect to be over 70 per cent leased out in the next two months. We have taken a conscious decision to only lease spaces and not sell any space in the mall,” says Bandukwalla.
The mall has both straight leases as well as minimum guarantee and revenue-sharing as the retail rental models with vanilla stores and anchors.
— Diwakar Kumar