Financial Daily from THE HINDU group of publications
Friday, May 20, 2005
Financial Daily from THE HINDU group of publications Friday, May 20, 2005 |
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Marketing
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Retailing Aerens Group plans specialty malls Our Bureau
Chennai , May 19 THE Rs 300-crore Aerens Group plans to launch specialty malls across India. Mr G.S. Pillai, Director, Aerens Goldsouk International Ltd, said that the first phase would cover Gurgaon, Ludhiana, Jaipur, Kochi, Chennai, Bangalore, Hyderabad, Mumbai, Ahmedabad and Kolkata. He said that each of these malls would need an investment of about Rs 80 crore to Rs 110 crore and the construction would take two years. The first specialty mall, the Gold Souk, came up in Gurgaon near New Delhi in October 2004 and houses some of the big names in the jewellery business in India and aboard. The second mall in Ludhiana is a Gold Souk and Wedding Souk. The mall is spread over four acres and is expected to open in 2007. In Chennai, the company plans to come out with a mall, which caters to the gold and wedding markets as well as the construction and home improvement market. This would be called the Home Souk. The work on this mall will start by October or November, Mr Pillai said. The company also plans to set up a Gold and Wedding Souk in Kochi. Mr Pillai said the company has plans to enter the service apartment segment in all the cities that the Gold Souks are planned.
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