This story is from March 18, 2006

Raheja set to enter big-time retailing

Indrajit Gupta / TNN / Mar 18, 2006, 00:09 IST

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A giant new structure, coming up cheek by jowl with the Inorbit Mall in Malad.

MUMBAI: A giant new structure, coming up cheek by jowl with the Inorbit Mall in Malad, has caught the attention of every resident in the locality. Some reckon it is retail giant Wal-Mart, which is setting up shop in Mumbai. Others insist it is a new age bank. But the intrigue may not last long.
In about six to eight weeks time, Hyper City, K Raheja's foray into big-box retailing, will open its doors.Spread over nearly 1,00,000 sq ft, the hypermarket is expected to stock virtually the entire gamut of merchandise, from apparel to food, from grocery to consumer electronics at a sizeable discount.
Said BS Nagesh, V-C, Hyper City India Retail Pvt Ltd, a company fully owned by the promoters of the K Raheja group, "The complete technology, property and the team is now in place." Shopper's Stop, a department store chain floated by the K Raheja group, has an option to buy 51% stake in this new venture in 2008.
Hyper City will be the fourth major hypermarket to be launched in the country, after Pantaloons' Big Bazaar, Trent's Star India Bazaar, and RPG Retail's Spencer hypermarket. Reliance Retail's much-awaited debut in the middle of this year is also expected to see the launch of a new hypermarket format.

A mega retailing complex like Hyper City, next to Inorbit, Mumbai's largest mall, will focus the spotlight on Malad, which is fast emerging as Mumbai's answer to Gurgaon.
Action is hotting up in the western suburbs, starting from Lokhandwala to Borivili, with nearly 20 new malls in various stages of completion. Of these, four new malls are coming up in a 10 km stretch in and around Inorbit.
Apart from Nagesh, the new Raheja venture consists of chief operating officer Andrew Livermore, a retail professional from South Africa, with specific expertise in sourcing and merchandising.
Hyper City has already lined up plans to hit Ahmedabad, in the 5 lakh sq ft Iscon Mega Mall on Sarkhej in Gandhinagar, which is slated for completion in June this year.

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