Mall and Event Management
Content
Anchor and tenant Mix at Fun Republic
Submitted To:
Submitted By:
Prof. Shubhendra Parihar
Nikhil Gupta
Vaibhav Jha
Vishwaranjan Dubey
Introduction
A shopping mall is a modern, chiefly North American, term for a form of shopping
precinct or shopping center, in which one or more buildings form a complex
of shops representing merchandisers with interconnecting walkways that enable customers to
walk from unit to unit. A shopping arcade is a specific form serving the same purpose. Many
early shopping arcades such the Burlington Arcade in London, the Galleria Vittorio Emanuele
II in Milan and numerous arcades in Paris are famous and still trading. However, many smaller
arcades have been demolished, replaced with large centers or "malls", often accessible by
vehicle. Technical innovations such as electric lighting and escalators were introduced from the
late nineteenth century. From the late twentieth century, entertainment venues such as movie
theaters and restaurants began to be added. As a single built structure, early shopping centers
were often architecturally significant constructions, enabling wealthier patrons to buy goods in
spaces protected from the weather. The largest mall in the world is the New South China
Mall in Dongguan, China with a gross floor area of 892,000 m2 (9,600,000 sq ft). The world's
second-largest shopping mall is the Golden Resources Mall in Beijing, China with a gross floor
area of 680,000 m2 (7,300,000 sq ft). SM Megamall in the Philippines, is the world's third-largest
at 542,980 m2 (5,844,600 sq ft) of gross floor area. The fourth largest shopping mall in the world
is SM City North EDSA in Quezon City, Philippines with a gross floor area of 504,900 m2
(5,435,000 sq ft) and the fifth largest shopping mall is 1 Utama in Malaysia at
465,000 m2 (5,010,000 sq ft) of gross floor area. Previously, the title of the largest enclosed
shopping mall was with the West Edmonton Mall in Edmonton, Alberta, Canada from 1986 to
2004. It is now the fifth largest mall.
Indian Scenario
The malls have started slowly evolving in terms of contracts offered to retailers. Earlier all space
was either sold or offered on fixed contract basis entailing a fixed monthly rent plus the
applicable common area maintenance charges. Thus only the occupiers were impacted by the
extent of a mall’s success in attracting adequate footfalls and revenues. However, now innovative
contracts based on revenue sharing or profit sharing with certain percentage as minimum
guarantee are becoming increasingly the norm. Consequently, the tenant is assured of
involvement and dedication of the mall management towards making it a success.
It is important to take note of that the evolution of malls was caused due to the launch of malls of
different sizes. Post 2006, gigantic malls with their gross leasable area (GLA) greater than
700,000 sf rose significantly from just 2 malls to 18 malls by 2013 and 10 more malls of such
sizes are expected to come up 2015. Of the malls under construction, 20% of the malls will have
GLA of above 700,000 sf and are expected to come up in Bengaluru, Mumbai and NCR. This
clearly highlights that the need of bigger and more cosmopolitan cities is leading to amplification
of mall areas. Till 2006, the malls were 3 to 4 storeys high; however, with the advent of colossal
malls, the malls grew vertically also and are now many are 5 to 6 storeys high. So, the modern
day malls are not only expanding horizontally but also vertically.
Vertical malls
High land prices in populous cities have led to the concept of the "vertical mall," in which space
allocated to retail is configured over a number of stories accessible
by elevators and/or escalators (usually both) linking the different levels of the mall. The
challenge of this type of mall is to overcome the natural tendency of shoppers to move
horizontally and encourage shoppers to move upwards and downwards. The concept of a vertical
mall was originally conceived in the late 1960s by the Mafco Company, former shopping center
development division of Marshall Field & Co. The Water Tower Place skyscraper, Chicago,
Illinois, was built in 1975 by Urban Retail Properties. It contains a hotel, luxury condominiums,
and office space and sits atop a block-long base containing an eight-level atrium-style retail mall
that fronts on the Magnificent Mile.Vertical malls are common in densely populated
conurbations such as Hong Kong and Bangkok. Times Square in Hong Kong is a principal
example.
Anchor Store
In retail, an anchor store, draw tenant, anchor tenant, or key tenant is one of the larger stores in a
shopping mall, usually a department store or a major retail chain.
Tenant Mix
Tenant mix is defined as the selection and location of retail tenants to maximize the income of
the landlord and stimulate business in general.
The type and quality of the tenants in a commercial property. Institutional investors typically pref
er a mixture of credit tenants from thenational, regional, and local levels.
Fun Republic- The Mall
Fun Republic in Lucknow is a 3, 70,000 sq ft (of leasable area) edifice, opened on February 2,
2007. Overlooking the affluent township of Gomti Nagar, the property has already become the
hottest spot amongst Indian retailers. Situated just a kilometer away from the River Gomti that
runs through the city of Lucknow, this area is fast emerging as the state capital’s Central
Business District. Another innovation to the model of modern malls is the presence of a hotel
block.
Fun Republic boasts of a 60-room boutique business hotel, spread over 4 floors. Nine steel
bridges, all columns-less, would run across the atrium connecting the two towers of the hotel
block. With a 15-feet floor to floor height across all levels, the architecture here only enhances
functional qualities of retailing. The project has emerged successful with 100 per cent of the area
transacted. The triumph is particularly satisfying since areas have been leased to actual users,
well before its launch. Fun Cinemas, Fun Gaming, Shoppers Stop, McDonalds, Spencer’s, Levis
Strauss & Co, Pepe Jeans, Wills Lifestyle, Jumbo are few brands to name who are at this mall.
Anchor Stores
The anchor tenants at Fun Republic Lucknow include Shoppers Stop. Spencer’s, Max
Lifestyle, McDonald’s, The Home Store.
These anchor stores are allocated in a strategically well planned manner such that each anchor
store doesn’t affect the the customer base of other store operating similar kind of operations.
Hyper Spencer is situated at the ground floor which is at the starting left of the mall and attract
huge footfall for the mall and in front at starting right is Food retail giant McDonalds which is a
crowd puller. At the first floor there are other two anchor stores of similar operations and they are
Maxx and Shoppers Stop which deal in clothing and accessories. While The Home Store is
located at the Third floor at corner which requires enough footsteps which can make people
tiring and hence generate less footfalls which any store especially which is supposed to be a
anchor store doesn’t suits well enough.
Tenant Mix
With a tenant mix being very diversified at fun republic having corporate houses to clothing,
food and beverages ,multiplex grocery, books and toys electronics and several vanilla stores is
very versatile in its tenant mix and profit generation.
The location of the vanilla stores is mainly situated near escalators and in front/exit of the anchor
stores so that there business gets maximum footfalls. The low footfalls generating stores such as
archies stationery store such as Reynolds also Toy store are situated in front of the escalators.
The Anchor stores which generates the maximum footfall for the mall and take the maximum
GLA are located facing the opposite side of the mall to distribute the crowd evenly and they are
able to generate business in a fair manner.
Shoppers Stop was covering the maximum space of the mall (GLA)
Conclusion
The different categories of shop in the mall to ensure that mall gets its revenue coming in
form of rent with minimum empty space present was very versatile .
There are mix categories of anchor stores at Fun Republic ranging from Food retail giant
McDonalds to hyper store Spencer to Clothing and accessories retail giants Shoppers
Stop and Max Lifestyle.
Starting from expensive brands such as Calvin Klien, Van Huesen, Wardrob, Meena
Bazaar the mall has budget tenants such as stores99, Hyper spencer, books store, etc.
Which covers crowd of all income groups?
Having minimum GLA left vacant and diversified mix of tenants Fun Republic is
operating well in Lucknow
Submitted To:
Submitted By:
Prof. Shubhendra Parihar
Nikhil Gupta
Vaibhav Jha
Vishwaranjan Dubey
Introduction
A shopping mall is a modern, chiefly North American, term for a form of shopping
precinct or shopping center, in which one or more buildings form a complex
of shops representing merchandisers with interconnecting walkways that enable customers to
walk from unit to unit. A shopping arcade is a specific form serving the same purpose. Many
early shopping arcades such the Burlington Arcade in London, the Galleria Vittorio Emanuele
II in Milan and numerous arcades in Paris are famous and still trading. However, many smaller
arcades have been demolished, replaced with large centers or "malls", often accessible by
vehicle. Technical innovations such as electric lighting and escalators were introduced from the
late nineteenth century. From the late twentieth century, entertainment venues such as movie
theaters and restaurants began to be added. As a single built structure, early shopping centers
were often architecturally significant constructions, enabling wealthier patrons to buy goods in
spaces protected from the weather. The largest mall in the world is the New South China
Mall in Dongguan, China with a gross floor area of 892,000 m2 (9,600,000 sq ft). The world's
second-largest shopping mall is the Golden Resources Mall in Beijing, China with a gross floor
area of 680,000 m2 (7,300,000 sq ft). SM Megamall in the Philippines, is the world's third-largest
at 542,980 m2 (5,844,600 sq ft) of gross floor area. The fourth largest shopping mall in the world
is SM City North EDSA in Quezon City, Philippines with a gross floor area of 504,900 m2
(5,435,000 sq ft) and the fifth largest shopping mall is 1 Utama in Malaysia at
465,000 m2 (5,010,000 sq ft) of gross floor area. Previously, the title of the largest enclosed
shopping mall was with the West Edmonton Mall in Edmonton, Alberta, Canada from 1986 to
2004. It is now the fifth largest mall.
Indian Scenario
The malls have started slowly evolving in terms of contracts offered to retailers. Earlier all space
was either sold or offered on fixed contract basis entailing a fixed monthly rent plus the
applicable common area maintenance charges. Thus only the occupiers were impacted by the
extent of a mall’s success in attracting adequate footfalls and revenues. However, now innovative
contracts based on revenue sharing or profit sharing with certain percentage as minimum
guarantee are becoming increasingly the norm. Consequently, the tenant is assured of
involvement and dedication of the mall management towards making it a success.
It is important to take note of that the evolution of malls was caused due to the launch of malls of
different sizes. Post 2006, gigantic malls with their gross leasable area (GLA) greater than
700,000 sf rose significantly from just 2 malls to 18 malls by 2013 and 10 more malls of such
sizes are expected to come up 2015. Of the malls under construction, 20% of the malls will have
GLA of above 700,000 sf and are expected to come up in Bengaluru, Mumbai and NCR. This
clearly highlights that the need of bigger and more cosmopolitan cities is leading to amplification
of mall areas. Till 2006, the malls were 3 to 4 storeys high; however, with the advent of colossal
malls, the malls grew vertically also and are now many are 5 to 6 storeys high. So, the modern
day malls are not only expanding horizontally but also vertically.
Vertical malls
High land prices in populous cities have led to the concept of the "vertical mall," in which space
allocated to retail is configured over a number of stories accessible
by elevators and/or escalators (usually both) linking the different levels of the mall. The
challenge of this type of mall is to overcome the natural tendency of shoppers to move
horizontally and encourage shoppers to move upwards and downwards. The concept of a vertical
mall was originally conceived in the late 1960s by the Mafco Company, former shopping center
development division of Marshall Field & Co. The Water Tower Place skyscraper, Chicago,
Illinois, was built in 1975 by Urban Retail Properties. It contains a hotel, luxury condominiums,
and office space and sits atop a block-long base containing an eight-level atrium-style retail mall
that fronts on the Magnificent Mile.Vertical malls are common in densely populated
conurbations such as Hong Kong and Bangkok. Times Square in Hong Kong is a principal
example.
Anchor Store
In retail, an anchor store, draw tenant, anchor tenant, or key tenant is one of the larger stores in a
shopping mall, usually a department store or a major retail chain.
Tenant Mix
Tenant mix is defined as the selection and location of retail tenants to maximize the income of
the landlord and stimulate business in general.
The type and quality of the tenants in a commercial property. Institutional investors typically pref
er a mixture of credit tenants from thenational, regional, and local levels.
Fun Republic- The Mall
Fun Republic in Lucknow is a 3, 70,000 sq ft (of leasable area) edifice, opened on February 2,
2007. Overlooking the affluent township of Gomti Nagar, the property has already become the
hottest spot amongst Indian retailers. Situated just a kilometer away from the River Gomti that
runs through the city of Lucknow, this area is fast emerging as the state capital’s Central
Business District. Another innovation to the model of modern malls is the presence of a hotel
block.
Fun Republic boasts of a 60-room boutique business hotel, spread over 4 floors. Nine steel
bridges, all columns-less, would run across the atrium connecting the two towers of the hotel
block. With a 15-feet floor to floor height across all levels, the architecture here only enhances
functional qualities of retailing. The project has emerged successful with 100 per cent of the area
transacted. The triumph is particularly satisfying since areas have been leased to actual users,
well before its launch. Fun Cinemas, Fun Gaming, Shoppers Stop, McDonalds, Spencer’s, Levis
Strauss & Co, Pepe Jeans, Wills Lifestyle, Jumbo are few brands to name who are at this mall.
Anchor Stores
The anchor tenants at Fun Republic Lucknow include Shoppers Stop. Spencer’s, Max
Lifestyle, McDonald’s, The Home Store.
These anchor stores are allocated in a strategically well planned manner such that each anchor
store doesn’t affect the the customer base of other store operating similar kind of operations.
Hyper Spencer is situated at the ground floor which is at the starting left of the mall and attract
huge footfall for the mall and in front at starting right is Food retail giant McDonalds which is a
crowd puller. At the first floor there are other two anchor stores of similar operations and they are
Maxx and Shoppers Stop which deal in clothing and accessories. While The Home Store is
located at the Third floor at corner which requires enough footsteps which can make people
tiring and hence generate less footfalls which any store especially which is supposed to be a
anchor store doesn’t suits well enough.
Tenant Mix
With a tenant mix being very diversified at fun republic having corporate houses to clothing,
food and beverages ,multiplex grocery, books and toys electronics and several vanilla stores is
very versatile in its tenant mix and profit generation.
The location of the vanilla stores is mainly situated near escalators and in front/exit of the anchor
stores so that there business gets maximum footfalls. The low footfalls generating stores such as
archies stationery store such as Reynolds also Toy store are situated in front of the escalators.
The Anchor stores which generates the maximum footfall for the mall and take the maximum
GLA are located facing the opposite side of the mall to distribute the crowd evenly and they are
able to generate business in a fair manner.
Shoppers Stop was covering the maximum space of the mall (GLA)
Conclusion
The different categories of shop in the mall to ensure that mall gets its revenue coming in
form of rent with minimum empty space present was very versatile .
There are mix categories of anchor stores at Fun Republic ranging from Food retail giant
McDonalds to hyper store Spencer to Clothing and accessories retail giants Shoppers
Stop and Max Lifestyle.
Starting from expensive brands such as Calvin Klien, Van Huesen, Wardrob, Meena
Bazaar the mall has budget tenants such as stores99, Hyper spencer, books store, etc.
Which covers crowd of all income groups?
Having minimum GLA left vacant and diversified mix of tenants Fun Republic is
operating well in Lucknow
