| The mall, to be set up by Prestige Group, one of the leading and established developers in Bangalore, on 5.2 acres of land, will exclusively focus on factory outlets. |
| To be set up with an investment of Rs 20-30 crore, the mall is expected to be operational in August 2006. The mall will be developed near to the international technology park. |
| The mall will have dedicated space for a convergence of big brands and a wide range of lifestyle products. |
| "We are talking about contemporary interiors and new architectural dimensions, shopping comfort, open space and the extras that a mall can provide," Suresh Singaravelu, head of the Prestige Estates Projects, told Business Standard. |
| "This is real estate solution to working capital management. All brands face season changes and production overruns, which cause unsold stock. Brand owners forced to liquidate these stock, channel them into factory outlets where a consumer gets the choice of his brand at a good bargain. The factory outlets currently are scattered around and do not give a good shopping experience. We are building Forum Retail Park to aid consumers and the brand owners to do business in a good environment," Singaravelu said. |
| Terming the emergence of factory outlets an interesting development, he said the mall project had been planned following a study on the factory outlets in and around Bangalore. |
| "We analysed delivery chains and product life cycles, and watched with amazement as several factory outlets sprang on the outskirts of the city," he said. |
| "To start with, we thought we'd infuse the magic of a good mall. At one level, that means our experience in trade categorisation, support logistics and key criteria such as parking. At another level, we are talking about food courts, gaming parlours, entertainment areas and other ideas that will get people to actually drive down to the mall with their whole families," Singaravelu said. |
Top Section
Explore Business Standard