Virtuous Retail Retail Therapy all Over India

India’s growing demographic strengths has boosted organised retail; and the industry is expanding at a rapid pace.

But the dynamics of this segment are different from that of residential properties. The success of a mall depends on factors like location, design, anchor tenants and good tenant mix. This is where Virtuous Retail stands in good stead. With specialized know-how in creating high-performance lifestyle centres, Virtuous Retail not only offers premium commercial space but complements it with intelligent tenant relationship management. It is the only institutionally owned, developer-operator of lifestyle destinations, it has a pan-India footprint.

Virtuous Retail is currently developing world-class lifestyle centres; the flagship VR Bengaluru and Arena. Virtuous Retail offers premium retail space for lease in Bengaluru, which boasts of one of India’s fastest retail growth figures. Retail therapy takes on a whole new meaning with the advent of the ritzy VR Bengaluru. This awe-inspiring structure spans 1.5 million square feet; and features over 200 luxury and super-premium retail, entertainment and F&B outlets. Located in the heart of the buzzing Whitefield, VR Bengaluru houses top-notch commercial spaces, contemporary offices and a hotel in addition to shopping. The rooftop houses a Sky Deck, a multi-activity venue that is a wellness centre by day and a leisure hub by night.

Premium retail space for rent in Mumbai is hard to come by in a city that enjoys a mature consumer market, but is bursting at the seams. The Boulevard by Virtuous Retail is located in the swanky suburb of Juhu, the only destination in an 8-kilometer radius. Boulevard offers 8, 50, 000 square feet of luxury, premium and high street shopping; with 7,00, 000 square feet for residential development. 6, 00, 000 square feet of space is earmarked to house a high-end sports club, hotel, and banquet space. These are separate blocks connected via boulevards for retail, F&B, and outdoor events.

The retail market in Kolkata is different and an interesting one. India’s third most populous city is an eclectic mix of the traditional and the modern; and is growing by leaps and bounds. In fact, the household expenditure in Kolkata was found to be INR 1,822 per person per month on average, which is much higher compared to other metros. Naturally demand for upscale retail space for rent in Kolkata is rising. Epicentre in New Town, a joint venture of Virtuous Retail, offers a whopping 2,300,000 square feet of leasable space. This ten level mixed-use lifestyle centre is set to house 7, 00,000 square feet of retail space; along with a star hotel and upmarket residences.

Like any other real estate investments, it is important that any retail real estate investment is backed by a proven track record. Virtuous Retail’s expertise includes the entire gamut of research, planning, design, development, leasing, marketing, operations, and regulatory compliance.

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Virtuous Retail Boosting Growth

According to the Indian Council for Research on International Economic Relations (ICRIER), India is the seventh-largest retail market in the world. No doubt that luxury retail is not just here to stay, but is the future of modern Indian economy.

The organized Indian retail sector has developed exponentially due to globalisation, high economic growth, changing consumer preferences. Even Tier II towns have witnessed have thus emerged as attractive markets for premium retail shopping outlets and superb retail spaces.
Virtuous Retail, an offshoot of global investment firm Xander Group, specializes in Retail Management and Leasing, Tenant Relationship Management, and neighbourhood shopping centres. The company currently has around 8 luxury shopping malls in various stages of construction in Pune, Mumbai, Bengaluru, Kolkata and Udaipur, which will be given to luxury brands as retail space on lease.

The company’s flagship mall is in Surat; a total of 6,00,000 square feet of luxury retail spaces. VR Surat celebrated its first anniversary last year, and is drawing customers in large throngs. It is the largest shopping centre in Surat – 3 storeys high and 45,000 square feet of open area. 90 per cent of the total retail space for lease has been booked by 11 renowned anchor stores, 2 mid-sized units and 78 inline stores. This contemporary, premium lifestyle retail centre has already won an award for the ‘Most Admired Shopping Center Launch’ award at the Indian Shopping Centre Awards 2014.

In Pune, another fast-growing tier II city, Virtuous Retail is currently developing “My Mall.” The Pune mall is spread over 17 levels including 3 basements. A mixed-use format, My Mall also houses the upmarket Marriott Hotel within its premises. The Epicentre at Kolkata too, is a mixed-format project where the mall houses Grade A residential premises as well as a star hotel. Both the malls are expected to launch in 2016. The opulent retail shopping outlet in Bengaluru, VR Bengaluru promises to be an ‘it’ destination with luxury and premium retail brands and even a microbrewery. What sets it apart is that this 1-million square feet mall, which will be operational in 2015, will have a dedicated 50,000 square feet plug-and-play workspace for bootstrapped entrepreneurs. The Boulevard in Mumbai is spread over 16 floors and houses a high-end sports club, hotel and banquets, top-class luxurious residential units.

It is not just enough to built swanky malls and rent out commercial space on lease; the success also depends largely on the brand mix and primary market. Virtuous Retail is also a specialist in the niche field of Tenant Relationship Management, which plays a crucial role in anchoring the mall’s success.

Today, mall management and marketing is not just retail space for rent, but all about Consumer experience design- where the overall experience of the consumer plays an important part in the buying process. Virtual Retail has not just mastered the art, but has perfected it.

For more info visit: http://www.virtuousretail.com/

Virtuous Retail mapping the future

The demand for quality retail shopping outlets is increasing at a steady pace. This phenomenon is already evident in the metropolitan cities; Tier II and Tier III towns are also witnessing a demand for superior shopping experience and retail spaces. Swanky lifestyle malls and luxury retail brands replace traditional mom and pop stores. Experts are of the opinion that Indian lifestyle retail is set to grow faster than the growth of India’s GDP (Gross Domestic Product).

Rentals are one of the major cost overheads for retail companies. A major shift from the property-selling model to a leasing-and revenue-sharing model has been perceived in recent years. Virtuous Retail Services Pvt. Ltd. is a company that specializes is the development of retail space for lease. Its portfolio includes lifestyle centers, neighborhood shopping centres, and luxury retail centres. Virtuous Retail owns premium retail space for rent in India’s top cities – Bengaluru, Chennai, Mumbai, Pune, Surat and Kolkata. Virtuous Retail works in a developer-operator role. It develops urban social and commercial hubs (mall and shopping centres) and then manages the day-to-day operations of the mall. Global expertise is smartly fused with local data to create high performance prime commercial hubs, attractive to national and international retail players. This has made Virtuous one of the leading institutions in retail management and leasing.

Nowadays, apart from leasing space, promotion and marketing has also become crucial. According to Govind Shirkhande, CEO, Shoppers Stop’s, “With the revenue-sharing model, it has become important that tenant and owner both have a transparent business relation. This is the reason that specialized contracts are becoming popular.” Thus Virtuous Retail, in addition to its developer and operator role, also offers specialized services like consumer experience design and tenant relationship management. Consumer experience design is nothing but experiential marketing – the practice designing promotions and services with a focus on the quality of the customer’s experience. In today’s challenging scenario, it is not enough to make ensure 100% retail space on lease. The right mix of tenants adds stability; tenant relations and retention is a key component in mall management. Tenant relationship management today has evolved into a specialized field where dedicated managers are focused on developing mutual trust and smooth operational flows between the mall tenant and mall owner.

Backed by extensive research, Virtuous Retail is currently developing 8 large-format retail shopping centers in Surat, Bangalore, Pune, Chennai, Mumbai and Kolkata and Jaipur and Udaipur are on the anvil. The company is looking at outright purchase or commercial space on lease for these projects. With the backing of The Xander Group Inc., a leading emerging markets investment firm, Virtuous Retail is on the path to map India’s retail future.

For more info visit websites: http://www.virtuousretail.com/

Virtuous Retail: Ideal partner for retail players

Studies validate, that India’s retail sector accounts for about 14 to 15 per cent of the country’s GDP; and employs about 40 million people. With the opening up of the economy, India features high on the list of priority markets for several international luxury retail brands. There is also a hot debate regarding the issue of FDI. However, it goes without saying that lifestyle retail is the next big thing, and retail spaces are much in demand.

With retail shopping outlets sprouting across cities, retail management and design is now a specialized field altogether. Virtuous Retail, a unit of The Xander Group Inc., a global leading emerging markets investment firm, is a pioneer in retail management and leasing. With a focus on developing prime zones as commercial hubs and neighbourhood shopping centres, Virtuous Retail also offers services like research, finance, planning, marketing and mall operations, retail space for rent, consumer experience design, and tenant relationship management.

In today’s competitive scenario, it is not enough to provide build retail shopping outlets or give out commercial space on lease. The success of neighbourhood shopping centres depends on crucial factors like right tenant mix to address market gaps, extensive market knowledge, and cost-effective operations for a mutually beneficial and successful relationship between the tenant and the owner. This is where companies like Virtuous Retail bring in their expertise. For example, if a shop is under-performing, then Virtuous Retail would provide in-depth recommendations based on exhaustive market intelligence. Based on these recommendations, the mall can increase lease savings; and the under-performing store can negate losses to a certain extent. This is an example of tenant relationship management that is a forte of Virtuous Retail.

With increased competition, it is imperative that the neighbourhood shopping centre offers a unique engagement proposition to attract footfalls. Whether it is restaurants, entertainment options for weekend crowds, or a quality mix of daily requirements, the mall has to offer a solid consumer experience to make it a popular destination. This is where consumer experience design comes in.

So, what makes Virtuous Retail an ideal partner?
* In-depth local market knowledge
* Strong marketing strategies
* Cost-effective and sustainable mall operation services
* International design benchmarks
* Global experience

In addition to Virtuous Retail’s specialized services, the company’s pan-India portfolio of premium retail space for lease comprises impressive locations in key cities like Surat, Bengaluru, Kolkata, Pune, Mumbai and Udaipur.

So for lifestyle retail and luxury retail players looking for retail space on lease, Virtuous Retail is a perfect partner.

Read more visit websites: http://www.virtuousretail.com/

Virtuous Retail commercial retail sector

Virtuous Retail is a visionary group and has brought in global expertise and trends in building world class retail shopping outlets. It provides retail spaces for rent in prime cities like Bengaluru, Mumbai, Pune, Surat and Kolkata.

But, retail spaces are not only about huge shopping malls, they have a lot more in store. Neighborhood shopping centers for instance have increased more than double in the past four years. These hypermarkets or shopping centers offer a viable and easy alternative to people for everyday needs and entertainment. Similarly, the extreme of neighborhood shopping centers, luxury retail, is another major segment as far as retail spaces go. Reports indicate that the spurring growth of the Indian luxury market, will result in a three times increase in demand for luxury products by 2015. Lifestyle retail is another segment of commercial retail spaces and is gaining immense popularity as well.

Another concept that has gained a lot of prominence in retail construction is that of consumer experience design. This is a process where the quality of user experience is kept at the forefront. It is used to design products, processes, services, events, environments and many more things. Consumer experience design is a new and emerging discipline, and draws inspiration from various fields like cognitive psychology and perceptual psychology.

The retail sector though, is a complex and intriguing one, and has various forces at play. While, putting up retail or commercial space up for lease, the concept of tenant relationship management becomes extremely important. The lease may be negotiated by the developer, but to make this arrangement work smoothly, the tenant and the owner of the retail space, i.e., the developer need to come to agreement with the terms and work in a harmonious environment for the duration of the lease.

Retail Management and leasing also play a crucial role in the commercial retail sector. While, the art of Retail Management revolves around promoting greater sales and customer satisfaction, and can only be achieved by getting a better understanding of the consumers and their psyche. On the other hand, leasing is organized by developers of the commercial property.

With growing disposable incomes and the love to spend increasing, the retail sector in India is only expected to flourish. And, with retail developers doing extensive background and trend research, the properties coming up are easily comparable to international standards. The retail sector has opportuniies galore for everyone involved!

For more info visit: http://www.virtuousretail.com/index.asp