Croma, the consumer durable chain from the house Infiniti Retail, is set to open its first-ever revenue-sharing store at Connaught Place, Delhi. Incidently, this deal is first of its kind in DelhiNCR for an outlet located in a high-street.
The store is scheduled to open on October 15, 2010 and will occupy an area of 9,000 sq.ft. Shree Real Estate and Developers (SRED) played a pivotal role of mediating between The Heritage Property (owner of Odeon Big Cinema) and Croma for this arrangement.
Sounding positive about the deal, Shriram Pranav Monga of SRED says, "Pure revenue-sharing model can only happen with high-value retailers. The property owner or developer can benefit only if the retailer has a good brand name. Croma is a renowned brand over here that is why they could get through with this deal. This deal definitely going to change the market dynamics of the city."
— Shubhra Saini