Outlet malls, where India’s discount hunters meet top brands
NEW DELHI : Real estate developers across India are embracing the concept of outlet malls, inspired by the success of similar models in the West, offering clothing and footwear at discounted rates as brands seek avenues to liquidate stocks. While retail spaces such as outlet malls are already popular, particularly in Punjab, real estate experts said the trend is emerging as a pan-India phenomenon. Also, foreign outlet developers are also exploring ways to introduce global formats in India, they added.
In February, restate developer Pacific Group unveiled Delhi’s first outlet mall in Jasola. It hosts discounted stores for brands like Gant, Tommy Hilfiger, Calvin Klein, Lacoste, Skechers, Adidas, and Birkenstock, and is running at almost full occupancy. At the launch, the mall had over 74 premium brand outlets and a large cinema hall.
Abhishek Bansal, executive director of Pacific Group, said India always had small catchments with discounted stores, but dedicated, organized outlets were missing from India’s retail landscape. The mall in Jasola spanning 300,000 sqft has both value and bridge-to-luxury brands. However, Bansal anticipates a churn in brand mix within 12 to 24 months, with more focus on up-market brands.“We are 100% occupied, and getting queries from more brands.
We are trying to position it more as a premium outlet. We would like to up our game slowly and in 12-24 months, we will see changes and churn in brands." To be sure, outlet malls are quite popular with locals and tourists in Canada, Europe and the US. The malls are located usually on the outskirts of cities, spanning high-end luxury to mid-market labels, selling dated inventories at steep discounts.
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