Inorbit Malls to Come up with Luxury and Discount Malls

July 2, 2007	(2 votes, average: 3 out of 5)  Loading ...
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Inorbit Malls (India) Pvt. Ltd, owned by property developer K. Raheja, is planning to introduce a multitude of luxury malls and discount malls. The company is also considering coming up with two more formats, which could include the Inorbit name and a new sub brand name.

The plan is under development stage and its details are in the drawing board stage. The company is driving all its efforts to take up this venture as soon as possible. However, the kinds of investment and locations for the malls have not been decided yet.

The places which they have in view are large metros including New Delhi, Mumbai, and Bangalore. Contrary to this, the discount malls will come up in tier-II cities.

The spectrum of K Raheja’s retail ventures includes Shoppers’ Stop Ltd, the listed department store chain with a number of speciality store chains, and HyperCity Retail (India) Pvt. Ltd, a hypermarket.

Factory outlets are gaining in popularity everywhere especially the United States. The company is trying to explore the same options in India.

The only factory outlet chain in India is ‘The Loot’. Owned by Jay Retailing and Merchandising Pvt. Ltd, the company has 20 multi-brand factory outlet stores nationally. It is also considering for large format stores which could compete with Inorbit’s discount malls.

A number of real estate developers are coming forward to carve out their presence in retail sector. DLF is one of such prominent builders, planning to construct a luxury mall in New Delhi. Following in footsteps, there are others.

India is soon to roll out on a number of retail ventures.

News Published Under:   Real Estate Developers, Retail Market in India |

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