Retailer to transform from a mall to departmental store.August 22, 2012 | comments ( 0 ) |
The large format retailer, Central, of Future Group has undergone a makeover from being a seamless mall to a departmental store. The store will now have special focus on private labels and with a new positioning tagline, the retailer will be looking at smaller boutique-like formats along with its existing large-sized stores.
According to Jitendranath Patri, National Head Marketing, Central, Future Group, Central is moving away from a concept of a mall, which is a different animal to tackle. This concept though confused the consumers initially, but today we would rather be perceived as a department store offering affordable mid-level brands in the lifestyle space.
The retailer is being pitted against other multi brand large format retailers including Lifestyle and Shoppers Stop.
Through Central, Patri plans to offer products with a wider price brand to make fashion more affordable.
The first small format store has been opened at Orion mall in Bangalore where it already has three large-sized stores. The retailer further plans to open 4-5 stores within this year and expand its reach to cities such as Mumbai where stores present are very far flung.
- Reliance Retail & Jio to jointly launch new e-commerce platform
- CCI gives nod to Samara Capital-Amazon's joint bid to buy More
- SoftBank eyes 40% stake in FirstCry for $400 million
- Vivo India launches 'Vivo Xchange' program in partnership with Cashify.in
- Milkbasket expands operations to Bengaluru
- Manyavar launches another store in Punjab
- Ola raises Rs 150 crore from Flipkart's Co-Founder Sachin Bansal
- Ananth Narayanan steps down as Myntra Jabong CEO
- DailyNinja celebrates 15 million orders fulfilled
- John Jacobs looks to garner Rs 500 crore revenue by March 2021