The COVID-19 Pandemic not only created challenges for various businesses, it also to a great extent fast forwarded many innovations. The pandemic forced people to think out of the box and create new business ideas. “Outlet Malls” (Also known as discount malls) are emerging as a new option for shopping in India, thanks to the excellent road network created in the country. The Indian consumer is getting used to travel by road thanks to the new national highways and restricted international travel.
India being a “Value for Money” market, and the economy driven by the youth, such “outlet Malls” have huge potential to grow. Todays youth are very brand conscious, yet try to fetch quality products at discounted price.
Recently, a new company i.e. WC Realty Pvt. Ltd. was formed to own / develop “Outlet Malls” by the Real Estate industry veteran Mr. Gurcharan Singh Wahi. WC Realty has already acquired land / clients, to set up a chain of outlet malls across the country. “Our innovative ‘Outlet Malls’ would be spread much beyond and more than shopping. These ‘Outlet Malls’ which are going to be strategically placed on key highways shall offer innovative ‘Time-Spenders’ and increase the dwell time of customers, by ensuring an ideal mix of shopping, entertainment & more.” says the confident Mr. Gurcharan Singh Wahi, Founder & Managing Director of WC Realty.
To ensure a scientific and robust implementation of this international concept of “Outlet Malls” WC Realty has tied up with “Beyond Squarefeet” – a shopping mall specialist company, to provide all services like Designing, Marketing, Leasing, Fit-out Management and managing these Malls for WCR. Beyond Squarefeet, brings in their vast exposure and experience of handholding over 65 malls across 6 countries. Beyond Squarefeet shall be responsible for Designing, Marketing, Leasing & Managing these “Outlet Malls”
“Our core responsibility and efforts would be to add value to these ‘Outlet Malls’ with our international experience, thereby enhancing the asset value. We are excited to be part of this innovative shopping mall model and would work in tandem with WC Realty to bring in the desired results.” says Mr. Chandershekhar Kaul, Mall Mechanic & Managing Director of Beyond Squarefeet.
The Outlet Mall / Discounted Retail business in India is estimated to be of 75,000 Crores, most of which is unexploited / untapped till date. The first “Outlet Mall” in India was ‘Forum Value Mall’ in Whitefield, Bengaluru, way back in 2009. A few small shopping complexes have since then opened as “Outlet Malls” but were not upto the mark of international standards.
About WC Realty
WCR is in the field of retail real estate with focus on development and management of Outlet Malls, Retail Parks and Warehouses pan-India. The directors of WCR come from strong financial and real estate background and have vast experience of more than two decades in Real Estate and has strong connections with all the real estate stakeholders in India and abroad. Moreover, WCR has built a very wide business network across government, corporate and private sectors and currently manages real estate expansion and developments pan-India.
About Beyond Squarefeet
For over 12 years, Beyond Squarefeet has been recognised as Shopping Mall Specialists as they handhold shopping mall developers and provide services including, but not limited to designing, marketing, leasing, and managing shopping malls across India, Iran, Nepal, Nigeria, Oman and Qatar. Beyond Squarefeet has worked with over 65 malls spread across more than 25 million Sq.ft. Beyond Squarefeet is a single largest shopping mall advisory and shopping mall management company in India. It has hand-held many large shopping mall developers such as LULU Group, DLF Group, Tata Group, Omaxe Group, Supertech Group, Malabar Group, etc.
This article was shared with Prittle Prattle News as a Press Release.
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