Post the global downturn organised retail might not be the most lucrative business opportunity but Anil Ambani-led Reliance Infrastructure seems to think otherwise.
Reliance Infra is entering the world of organised retail through the Airport Expressway project, which the company is executing with Delhi Metro Rail Corporation.
According to the plans two of the three metro stations with direct connect to the IGI Airport will house mini malls.
Reliance Infra plans to build two mini malls at the CP and Shivaji Park Metro stations each spread across 60,000 square feet of retail space. Project details show that it will have 6 stations that include New Delhi Station, Shivaji Stadium, Dhaula Kuan Station, NH8 Station, IGI Airport Station and Dwarka.
“This model has been very successful in the other countries and the prospects for Reliance Infra are also very bright,” said Arvind Singhal, Chairman, KSA Technopak.
While it is too early to count the revenues, Reliance Infra wants to start these mini malls in six months and is in advanced talks with several retailers.
The mini malls will have a mix of luxury, premium and mass format stores that will include food and beverage, apparels and accessory stores as well as take away restaurants targeting the airport crowd primarily.
But the question remains at a time when organised retail is facing a severe downturn, how many of these cash strapped retailers would actually be willing to take up place in these malls.
Source: profit.ndtv.com
