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Ahmedabad One to expand with outlay of Rs 100 cr

The company is banking on the fact that the share of organised retail in Indian retail sector will rise from about five per cent now to about 20 per cent by the year 2025.

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Ahmedabad One Mall (previously known as Alpha One Mall) will grow bigger within investment of about Rs 75 crore to Rs 100 crore, said the company. This will create and additional space of up to two lakh square feet.

Nexus Malls, the parent company, will invest. The company is banking on the fact that the share of organised retail in Indian retail sector will rise from about five per cent now to about 20 per cent by the year 2025. The existing mall has 7.20 lakh square feet leasable area, and Nexus is planning to add about 1.50-2 lakh square feet area. This will come up about the existing parking space for two-wheelers.

"We partner with brands, ensuring quality and quantity available in stores at the time of offers. We never compromise amenities for the consumers including parking of vehicles. In addition to this communication with the consumers have helped us grow the business of brands present in the mall," said Jayen Naik, senior vice president, operations and projects at Nexus Malls.

Its existing brands include Shoppers Stop, Lifestyle, Hamleys, Jack & Jones, Gas, US Polo, Gant, Nautica, Nykaa and Tommy Hilfiger and many more. Starbucks will debut in Gujarat through Ahmedabad One mall.

Naik said that Indian retail market is unique and will have a mix of traditional retail, organised retail and e-commerce. "Sixty per cent of Indian population is below the age of 35 and they are largest users of organised retail. Consumers are both value and brand conscious," he said.

He also welcomed the initiative of Ahmedabad Shopping Festival by Gujarat government and Ahmedabad Municipal Corporation and said that it should continue every year.

The Footfalls

The mall has an average of 27,000 footfalls per day on weekdays rising to 50,000 on Sundays. Ahmedabad One had generated a business of Rs 756 crore in the fiscal 2018-19, with sales growing at 40 per cent.

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