Vivacity, a wholly owned subsidiary of Sheth Developers, will have Shoppers Stop and HyperCity as its anchors.
The mall has signed an agreement with K Raheja Group, owners of the retail chains, in this regard. HyperCity will have an area of 85,000 sq.ft, while Shoppers Stop will be spread over 60,000 sq.ft.
Speaking about the opening of the two anchors at the mall, J P Biswas, vice-president – leasing and marketing, Sheth Developers, said, “Our tie-up with Shoppers Stop and HyperCity is in line with our promise to get top brands in the mall. We look forward to give a world-class shopping experience to our customers under one roof.”
Commenting on its strategic tie-up with Vivacity, Govind Shrikhande, customer care associate and president and CEO, Shopper’s Stop Ltd, said, “We always wanted to have a large store in Thane. Vivacity has filled in the gap perfectly for us. In our opinion, Vivacity will be a dominant retail property in the central suburbs. The size and expanse of the mall, combined with our ability to pull customers, will be key to the success of both Shoppers Stop as well as Vivacity.”
B S Nagesh, customer care associate and vice-chairman, HyperCity Retail Pvt Ltd, said, “We feel Thane and its adjacent catchment areas have a lot of potential, and when we take into account the upcoming projects, the outlook becomes one of the brightest in the country. In view of this, we have signed up for our second HyperCity in Thane at Vivacity. The strategic location of Vivacity and its ease of access is ideal for a hypermarket.”
Earlier, Sheth Developers had announced a tie-up with Cinepolis to set up a 14-screen megaplex with a facility to showcase over 70 shows daily. Four of the screens will be dedicated to Cinepolis VIP – which will offer a luxurious and ultra-premium cinema experience.
Expected to open in 2011, Vivacity is located on the Eastern Express Highway and spread over an area on 1 million sq.ft. The mall is the first retail venture of Sheth Developers. It currently has 37 per cent occupancy.
– IndiaRetailing Bureau
