a quarterly report by - Technopak
a quarterly report by - Technopak
a quarterly report by - Technopak
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perspective<br />
a quar terly repor t <strong>by</strong><br />
Volume 02 / 2009<br />
13 | Retail Real-estate Trends<br />
| Volume 02<br />
Rising Importance for<br />
Brand Building in Malls<br />
03<br />
Established developers are trying to move towards a national footprint of malls. This is based on the belief<br />
that a multi-city presence gives better access to funds and global expertise. Also, it helps in attracting the<br />
retailers <strong>by</strong> leveraging the brand value gained in one city.<br />
The developers are using the power of an existing brand name to support company expansion plans same<br />
as well as new cities.<br />
Exhibit 5<br />
Major Developers Brand Leverage<br />
K Raheja Group promoted Inorbit Mall<br />
Prestige Group<br />
JP Infrastructure Pvt. Ltd.<br />
Phoenix Mills<br />
Examples of Brand Building in Malls<br />
After a successful stint in Malad, it has opened 4 malls in Vashi, Pune, Bangalore<br />
and Hyderabad. They have plans to open 4 more malls <strong>by</strong> 2010 under the ‘Inorbit’<br />
brand.<br />
Planning to open 5 to 6 malls in South India under the brand ‘Forum’ after the<br />
success of Forum Mall in Bangalore.<br />
Based on the reputation gained <strong>by</strong> ISCON Mega mall, it has opened 4 malls under<br />
the same umbrella in Gujarat and plans to expand further in other cities of Gujarat.<br />
Replicate the success gained <strong>by</strong> its ‘High Street Phoenix Mall’ in other cities<br />
and plans to expand further under the brand names – ‘High Street Phoenix’ and<br />
‘Phoenix Market City‘.<br />
Strong brand equity and early mover advantage can lead to quick returns and early break-even. Strong<br />
planning and operational capabilities expand the developers’ experience and ability to launch successful<br />
retail spaces across different locations. Brand image and identity spreads across various locations, thus<br />
leading to negligible advertisement and marketing costs for future projects. Consumers are more willing<br />
to try the new mall as they perceive it to have the same quality and service level and other attributes as in<br />
their original favorite.<br />
A chain of malls brings an image of consistency and attracts brand loyalty. However, it is very important for<br />
the developer to maintain the same quality and service standards of the brand across different cities. This<br />
strategy of leveraging on the brand can be extremely successful and profitable if it is correctly implemented<br />
and can create the right image for the new mall even before it starts functioning in the city.
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