MALL OF AM­RIT­SAR (NEXUS MALLS)

Shopping Center News - - SUCCESS STORY -

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-

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