The magnetic shopping charm!

Mumbai, the financial capital of India, has always been on the radar of various regional and national retailers to expand and set up shops. The growth of retail in the city came in the form of retail high streets and malls. Since south Mumbai is far too expensive and there are no large tracts of land available to create any sizable mall, most of the malls have come up in the western suburbs. That area of the city has now become almost saturated. The new growth area of the city and the most under served is along L.B.S Marg and rail corridor in the eastern suburbs, from Kurla to Thane. Several malls have come up in this area but there is still a lack of quality space to meet customers’ and retailers’ demands. This gap is now filled up by the Neptune Magnet Mall, a million sq ft retail development by the Neptune Group, strategically located on the main L.B.S. Marg, in the central line. The project is shaping up with tremendous speed. Ready for launch by the end of 2010, Magnet is all set to be the ultimate shopper-tainment destination for the suburban Mumbai-ite.

Conceptualised by Neptune Group, the Magnet Mall is planned to be the first international standard shopping center in the city. Neptune Group was established by like-minded entrepreneurs, Mr Nayan Bheda, Mr Sachin Deshmukh, Mr Nayan Shah, Mr Mahesh Shetty, Mr Chetan Bheda, Mr Animesh Dharamsi, and NMS Holdings. The group has been able to grow astonishingly to hold a few but prestigious projects in commercial, residential, retail, hospitality, infrastructure, entertainment sectors, integrated townships and information technology parks (IT) across the country. The location of the mall had been selected by the developer and has been subsequently designed by FORREC of Canada.

The retail mix

One of the largest malls in Mumbai, Magnet Mall is intended to be a one-stop-shop for the suburban Mumbai-ite, expected to attract crowds from all central suburban regions. Also, in keeping with the growing aspirations of the middle-class and higher middle-class segments, the mall houses national and regional brands besides lifestyle, premium brands and all the finer things in life.

Neptune Magnet Mall has been scientifically zoned by Beyond Squarefeet Advisory Pvt. Ltd, the mall management company appointed by Neptune Group. Keeping in mind the demand, category, competency and uniqueness of the offering, the right retailer or tenant is chosen. The retailer, in turn, is provided with assistance on selecting the right location within the mall keeping in mind the shoppers’ buying behaviour and tendencies as well as the retailers’ margins, business category, operating costs, stock turnover, visual merchandising, etc. Each floor has a unique trade mix catering to different segments of the target population. The circulation of each floor has been planned in such a way that the footfalls would be equal on all the floors. After detailed studies, layouts have been designed to enable free and unrestricted movement of footfalls within the premises.

This one million sq ft mall has about 15 per cent of franchisee participations; however, most of them have been mediated by the parent brand itself as it falls into their success and business policies. The Neptune Group has a few such direct relations which have been completely managed by Beyond Squarefeet as the group’s strategic marketing partner.

The unique positioning

The USP of the mall lies in its structure and commendable tenant mix. The Magnet Mall has a 1000 ft mammoth frontage, a cash & carry outlet (METRO) spread over 1, 30,000 sq ft, a 10-screen multiplex, Mumbai’s biggest food offering occupying a space of 70,000 sq ft, and the first and only indoor-outdoor FEC (Family Entertainment Centre) with rides stretched over 40,000 sq ft.  Its tenant mix constitutes three large MBOs and 10 mini anchors, a two level car park, and four themed atriums leaving majority of the stores with prime atrium-facing locations.

The strategic location

There are a host of other features which distinguish the Magnet Mall from other malls and make it a distinctive destination like no other.  Firstly, it is located on the main arterial road in Lower Powai, Bhandup - LBS Marg. The mall is about 10 minutes away from the express highway, 20 minutes from the international airport and within walking distance from Bhandup railway station. The catchment area for the mall has bagged residential projects from all the biggest and most prestigious developers in the city including Lodha, Kalpataru, Godrej, Hiranandani, Nirmal, Tata Housing, Neelkanth and many more. So, in the near future there will be thousands of residential properties in the vicinity. Moreover, in the light of the quick progress of the second phase of the Mumbai metro rail project, which will pass through very close to the Magnet Mall, it is safe to say that this location is set to be a goldmine catchment in the years to come.

Shopping, pleasure and fun

There is zero compromise on mall ambience to create the finest shopping experience. The mall sprawls over a luxurious and lavish area with each floor plate comfortably spread over 2,35,000 sq ft unfolding through a series of four wide and spacious, themed atriums that boast of huge passages and lovely seating arrangements with ample space for conducting events. Magnet has a welcoming frontage with aesthetic landscaping, beautiful stone paving and fountains that greet you at the entrance. Based on the theme of the elements of life, viz., Air, Water, Earth and Fire, Magnet has four huge atriums, giving the customers a perception of four malls being combined into one.

The mall will be having a rigorous and tedious calendar of events and promotions of the mall, prepared by Beyond Squarefeet. The events and promotions will also have a lot of participation by the retailers so that events could be focused towards their benefits.

One of the key attractions, the food offering is comprised of 20 kitchens of quick serve restaurants, lounge bars, open air restaurants, banquets, themed restaurants, seven fine dine restaurants and cafes on each floor. Moreover, the mega entertainment centre is integrated with the food court for a wholesome family experience. Considering the huge amount of footfalls that Neptune Magnet mall is expected to generate, the mall developer has ensured that all amenities and services fall in place. The mall is fully equipped with a list of amenities including clinic, pharmacy, first-aid room and ambulance for emergencies, mobile charging units, Wi-fi connectivity, music poles, reading rooms with periodicals, kids crèche zones, seating lounges for the customers’ convenience, lost & found zone, ATMs, CCTVs with monitoring, wheel chair accessibility, 3 service lifts for loading/ unloading goods from the basement right up to the 4th level, adequate storage for housekeeping, circulation and fire escapes, staircases and escalators, dedicated spaces for special events and exhibitions, separate staff dining facility, business and info centre, drivers lounge, cab-on-call and a twin basement car park.

With the change in the current climate in the retail business environment, retailers are realising the opportunity that exists in such a catchment and a strategically located and planned mall such as Magnet. This mall is set to be a destination for shopping and entertainment in the city offering a unique proposition, a destination which will change the landscape, peoplescape and shoppingscape of the catchment.