Nexus Select pushes food, entertainment space
Ethos, Mac and Pret A Manger. The also comes as apparel retailers that typically occupy anchor space in malls are doing more business online.
This is prompting mall developers to expand their offerings beyond apparel and footwear. Nexus Select plans to downsize large hypermarkets and select apparel and footwear stores to create more space for restaurants and entertainment concepts.
The company’s focus on food and entertainment is reinforced by a strong performance of these categories in the first half of the current financial year. Footfalls increased 14% year-on-year, driven by the return of families and their preference for family entertainment centres, cinemas and restaurants.
“F&B remains the fastest-growing category within our retail portfolio," Sehgal said. “We’ve also increased our food court capacities across all malls." Additionally, more international food services brands have entered India and are steadily expanding their presence—these include Pret A Manger, Paul’s and Popeye’s -- while local restaurant brands are stepping up presence too, he said.
“Today people want to go out and eat since eating is a very social activity. To that extent people have resumed eating out in restaurants after the pandemic," he added.Milestone Alert!
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