Monday, September 20, 2004
Concluding part of article...
THE FORUM, Kolkata
March 2003, which saw the opening of Forum, could be considered as a major turnaround in the development of quality retail space in Kolkata. The success of this mall shattered the image of Kolkata as a conservative market.
—Mr Anuj Puri, MD, Chesterton Meghraj Property Consultants
The launch of Forum, the brainchild of Sunsam Properties of the Saraf Group, was a much-awaited event for Kolkata’s discerning public. Offering a wide range of shopping, catering and entertainment options, it has quickly earned itself the reputation of being the city’s trendiest hotspot for everyone from PYTs to pater familias. This four-storied, 180,000 square feet of retail space on Elgin Road proved to be an instant success in a city where disposable incomes and a demand for a complete shopping destination were both on the rise.
The biggest draw, however, has been the anchor store Shoppers’ Stop, which occupies a retail space of around 55,000 square feet across three floors of the mall. Some of the first tenant stores to set up shop were Satya Paul, Bizarre, Cotton World, Anokhi and Be:. Other branded outlets included those of Benetton, Planet Sports, Samsonite, Hidesign, Niké, Swarovski, Home Store and Music World. The mall also houses a 300-cover food court and a 4-screen multiplex, INOX, which can seat over a 1,000 viewers. Spread around 30,000 square feet, the entire top floor is dedicated to the city’s first multiplex.
Kolkata’s Forum has been drawing footfalls in excess of 75,000 per week, with retail outlets recording almost 30-35 per cent increase in sales after the opening of the multiplex in September 2003. Ticket sales at Inox, in fact, have been averaging at almost 90 per cent of the theatre capacity – the highest box-office sales amongst all the multiplexes in the country!
Despite enjoying the first mover advantage, Forum also faces problems as the pioneer of an innovative concept in the city. The mall needs to keep working at building a distinct brand image to increase footfalls with higher conversions.
THE FORUM, Bangalore
Shopping is, after all, all about creating impulse opportunity and once that is there, it is up to the brands and products to convert that opportunity.
—Suresh Singaravelu, Chief Executive, The Forum, Bangalore
Bangalore’s first shopping mall, The Forum, was recently launched in 2004 by Prestige Estates Projects Pvt. Ltd., the city’s leading retailer-cum-real-estate developer. The group goes about fifty years back, when they had just started out with a Raymond showroom on Bangalore’s Commercial Street. Over the years, they have pioneered the construction of shopping complexes, including 5th Avenue on Brigade Road.
Located at Koramangala, one of the most happening hubs, it is also Bangalore’s fastest growing commercial cum residential areas. Home to many of the city’s major offices, MNCs, entertainment complexes and a large North Indian population – the area is just ripe for the taking.
The Forum, built on a total land area of about 192,000 square feet, is Bangalore’s first integrated shopping mall, with over 400,000 square feet of retail space dedicated to a mix of retail, entertainment and dining outlets. Carefully planned and designed by the Prestige Group, the maximum space (35 per cent) has been allocated to retail, out of which, 36 per cent has been earmarked for the apparel section. The five-story mall’s multi-level car park has a mammoth capacity for 900 cars, making lateral entry to the mall possible, instead of traditional ground-level entry that often puts upper-level stores at a disadvantage. In fact, the 26,000 square feet atrium has been designed to allow for more browsing space, according better visibility to upper-level stores. A separate area has also been dedicated as an exhibition space within the mall.
The main anchor stores are Landmark, spread over 43,561 square feet, Westside with 37,426 square feet of retail space, and the Cineplex housing PVR (104,875 square feet) and FabMall (12,003 square feet). Landmark’s Bangalore outlet at Forum is, in fact, the largest across the retail chain.
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