It is meant exclusively for the rich and famous. With India boasting of highest number of billionaires in Asia, the country would soon witness a mall that would be housing only luxury brands. And the city to host first such high-end retail is Bangalore with the launch of UB City – the Collection.
The luxury shopping mall is being built in a 55:45 partnership between Vijay Mallya and Prestige group. It would be situated at Vittal Mallya Road (which incidentally is named after Vijay Mallya’s father) and would cost over Rs.300 crores and would open early 2008.
The mall would be spread over 15 lakh square feet and built in a Venetian style and would even house a JW Marriot Hotel. Apart from that there would be service apartments, office spaces with companies like Citigroup, Toyota, ABN Amro, Jones Lang LaSalle, 3M, Ernst and Young and Yahoo! already signed up.
The Collection would initially have 38 stores and 23 Indian and foreign brands. The key mall tenant shall be France’s Louis Vuitton while other brands opening their shops include Gucci, Dunhill, Fendi, Mont Blanc, Van Cleef & Arpels, Zegna, Rolex and Omega.
With Bangalore housing substantial number of HNIs and upcoming millionaires, it would be safe to assume, that the mall would attract instant recognition and would have a separate clientle and niche of its own.
Earlier, DLF was also learnt to be interested in opening a luxury mall in Gurgaon.
Find this article at: http://www.labnol.org/india/corporate/vijay-mallya-targets-the-wealthy-with-his-luxury-mall/1759/
Tags: dlf, kingfisher, mall, mallya, retail, Corporate, India
Reader Comments
Friend people are expanding like anything, Videocon getting into telecom, DLF into Hotels and SEZ and telecom, NTPC is getting into Forward and Backward integration into retail upstream and coal mines back stream, apart from equipment.
All are riding the Economy Boom of there is sudden depression or downturn of society, love labour lost. Billionaires turn beggars. But rent of Risk is Wealth.
Written by Rajeev on 11.07.07
Earlier we used to hear about these special luxury services in the US. With the explosive economy, it looks like India will be going the US way. I am sure in a span of 10years or so one would not recognize few cities in india
Written by Selbourne on 11.08.07