MALL OF AMRITSAR (NEXUS MALLS)
When Nexus Malls bought over the erstwhile AlphaOne, Amritsar in November 2016, it was in an urgent need to catch up on competition. The design of the mall was very old, and it had started to look tired. Competition had intensiͤed, and new brands were not coming in. There was an urgent need to make the mall more relevant to the people. Nexus Malls put together some of the ͤnest minds in the world and came up with a transformation plan for the mall which was ͤrst up renamed Mall of Amritsar.
Mall of Amritsar, in Amritsar, Punjab completely turned around its story last year. The total lease rent income / revenue share income of the shopping centre exclusive of taxes went up to `16.9 crore while total supplementary income from ads, signages, promotions and parking increased to `66 crore post the makeover. The total common area maintenance (CAM) revenue excluding taxes went up to `94.3 crore.
The number of separately leased stores/doors went up to 102, the covered car parking slots were 1,500, there were 500 covered 2 wheeler parking slots. The number of escalators stood at 14 while elevators were 6 and the mall even houses 2 ATMs.
The tenant mix was shuffled considerably keeping in mind changing buying patterns and also because of the evolution of the catchment. Phasing out redundant brands and bringing more relevant and footfall generating brands was the crux of this changing mix.
Major menswear brands from the ground floor were relocated to the ͤrst floor and the ground floor was thrown open to more premium brands including H&M, Forever 21, Forever New, Aéropostale, GANT, Ready to Wear by Raymonds, Hush Puppies, Super Dry, Forest Essentials and Nykaa.
The ͤrst floor now includes tenants like Park Avenue, Arrow, Blackberry’s, Vans and womenwear brands like Zivame, Meena Bazar, Global Desi, Project Eve, Splash and Biba. Some brands – Indian Terrain, Wrangler and Nike – were re-