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Kolkata Retail Guide

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Kolkata Retail Guide KOLKATA Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | Kolkata | 2018 0 Kolkata, known as the intellectual city of India and formerly the capital of British India. Located on the banks of the river Ganga, just 180 km from the Gangetic delta, Kolkata covers almost 1,480 sqm with a population of over 15 million. As a financial hub of East and North-East India, the city is expanding as it embraces a huge population influx from neighbouring states. It is home to many industrial units operated by large public and private sector corporations; major sectors include steel, heavy engineering, mining, minerals, cement, pharmaceuticals, food processing, agriculture, textiles and jute. In the last two decades, the city has seen a rapid change in retail as well as real estate developments and social infrastructure. Although the city saw an industrial dormancy after independence, in the last two decades it has witnessed significant economic development driven by the boom in the IT- ITeS sectors. Over the years the city has evolved and embraced the concept of modern retail alongside traditional. It has become one of the prime destinations for many national and international retailers. The retail hub of the city is located in the Central Business District (CBD) that comprises Park Street, Camac Street, Theatre Road, Elgin Road and Lindsay Street. This particular submarket is one of the main street locations, accommodating major international and local brands. Total mall space in Kolkata is 4.4 million square feet with an overall vacancy rate of 3.65% as of Q4 2017. Most of the malls have been doing well with an occupancy of over 95%. KOLKATA A leading mall in South Kolkata is currently being refurbished and is also expected to restart operations in the first quarter of OVERVIEW 2018, lending a fresh impetus to leasing activities in the market. A few luxury brands in the apparel segment are expected to lease spaces in the refurbished mall, with the city seen as a gateway for luxury retailers in East India. Cushman & Wakefield | Kolkata | 2018 1 KOLKATA KEY RETAIL STREETS & AREAS PARK STREET, CAMAC STREET, ELGIN ROAD, THEATRE ROAD LINDSAY STREET Elgin Road and Theatre Road have emerged over the These main streets are Kolkata’s premier retail and office past few years as an alternate retail destination to the neighbourhood and is home to numerous national and prime streets such as Park Street and Camac Street. international retail brands. Park Street and Camac Street These main streets also have a ready catchment of office are some of the oldest main streets of Kolkata, which goers as well as the residential localities of Central have a large presence of retailers from F&B, jewellery and Kolkata. Elgin Road boasts Forum mall & Forum accessories and apparel. Lindsay Street primarily has a Courtyard a prime shopping mall in the city. It has a good large presence of clothing retailers, catering to affordable mix of brands with a varied market positioning, including and mid markets. Hard Rock Café, The Beer café and Mango, Aldo, Jack & Jones, Adidas, Nike, UCB, H&M and Starbuck café are the recent F&B outlets to have opened Shoppers Stop. Apart from that Elgin Road also has in Park Street. Jockey and Blackberry are the recent presence of premium and designer brands such as transactions concluded in Camac Street. Tommy Hilfiger, Calvin Klein, Shantanu & Nikhil, Ritu Kumar. KANKURGACHI, VIP ROAD GARIAHAT Kankurgachi and VIP Road are other prominent retail Gariahat is an established market which offers submarkets in Kolkata. The retail landscape continues to unparalleled retail exposure with a mix of local, national evolve as domestic and international brands assert their and international retail brands including Woodland, presence in this coveted neighbourhood. These main FabIndia, Bata, Raymond, KFC, Manyavar, Reebok and streets cater to the Northern parts of the city with close Adidas. proximity to the International Airport and peripheral business districts of Sector-V, Salt lake and Rajarhat. Cushman & Wakefield | Kolkata | 2018 2 KOLKATA MARKET OVERVIEW KEY AREAS/ CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS AVERAGE RANGE OF STREETS/ PROFILE RENT FOR UNIT STANDARD SHOPPING CENTERS 500 SQFT UNITS (SQFT) (SQFT/ MONTH) Park Street/Camac Street/ Affordable & mid Rolex, Seiko, Exclusive Lines, Crocs, Kalyan Hardrock Café, Starbuck $ 10 400 - 600 & Lindsay Street segment Jewellers, Tanishq, Bata, Reebok, Wildcraft, Coffee, Dominos, Spencer’s, 1,000-3,000 Adidas, Hush Puppies, Apple Gariahat Affordable & mid Pantaloon, Spencer’s, Levi’s, Reebok, Adidas, KFC, Reliance Trend, $ 4 400 - 800 & segment Raymond’s, Peter England, Manyavars, Bata, 1,500 - 4,000 World of Titan, Tanishq, Fast track Theatre Road/Elgin Road Mid and high-end US Polo, Straavi, Prapti, Tommy Hilfiger, H&M, Ritu Kumar, Shantanu $ 6 500 - 1,000 & segment Calvin Klein, World of Titan, UCB, Titan Eye & Nikhil, Max 1,500 - 3,000 Plus Kankurgachi /VIP Road Affordable & mid Pantaloons, Tanishq, TBZ, World of Titan, VIP, Biba, Bata, Maruti Suzuki $ 3.7 500 - 700 & segment Samsonite, CCD, Barista 1,000 – 3,000 Forum Mall Mid and high-end Shoppers Stop, VIP, UCB, Liliput, Global Desi, TGIF, Hush Puppies, Living $ 9.5 1,000 segment Mango, Aldo Room South City Mall Mid and high-end Shoppers Stop, Pantaloons, Lacoste, Bose, Zara, Hush Puppies, Bata, $ 7 1,200 segment Forever New, Nike, Timberland, Adidas, Forever 21,Samsung Guess, FCUK, Puma Columbia Sportswear City Centre I Mid and high-end Shoppers Stop, Arrow, Wills Lifestyle, W, Jack & Jones, FabIndia, Little $ 5.2 800 segment Adidas, UCB Shop, Body Shop City Centre II, New Town Affordable & mid Pantaloons, Rene, Apple, Samsung, Arrow, Safari, Max $ 2.2 900 segment Adidas, Gini & Jony Mani Square Affordable & mid West Side, World of Titan, Titan Eye +, Rene, Shoppers Stop, Latin Quarter, $ 5.2 1,000 segment Blue & Blues, Gini & Jony Keventers, Wow Momo, Titan Skinn Data as of March 2018. D1 US$ = 67 INR Cushman & Wakefield | Kolkata | 2018 3 KOLKATA MARKET OVERVIEW KEY AREAS/ CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS AVERAGE RANGE OF STREETS/ PROFILE RENT FOR UNIT STANDARD SHOPPING CENTERS 500 SQFT UNITS (SQFT) (SQFT/ MONTH) Diamond Plaza Affordable & mid Reliance Trends, Reliance Foot Print, Max, Woodland, Planet Fashion $ 2.9 800 segment Pantaloons, Prapti, Bata, Big Bazaar Avani Riverside Mall Affordable & mid Pantaloons, Reliance Trends, Reliance CDIT, Prapti, People, Derby $ 2.2 800 segment Peter England, Nike, Provogue, Biba Metropolis Mall Affordable & mid Pantaloons, Reliance Trends, Reliance CDIT, KFC, Pizza Hut, Fab India $ 3.5 800 segment Peter England, Nike, Provogue, Biba Quest Mall High-end & luxury Lifestyle, Spencers, Gucci, Burberry, Canali, Scotch & Soda, Superdry, $ 10 800-1,200 segment Michael Kors, Emporio Armani, The Collective Hugo Boss, Cover Story Acropolis Mall Mid and high-end Shoppers Stop, Being Human, Celio, Cross, Starbucks, Keventers, Metro $ 9.5 800-1,200 segment Chilis, Fabindia Shoes, Biba, Cross Data as of March 2018. D1 US$ = 67 INR Cushman & Wakefield | Kolkata | 2018 4 KOLKATA SHOPPING CENTRES MERLIN ACROPOLIS, RAJDANGA MAIN QUEST MALL, PARK CIRCUS ROAD Quest mall (438,000 sqft), which is located in Park Circus, Acropolis is one of the Iconic Masterpieces of the Merlin became operational in 2013. It is the first of it’s kind in all Group; it is a mixed use development of 800,000 sqft in of East India, with dedicated zones for high-end and Kolkata out of which 300,000 sqft is retail and the rest is luxury brands. It is also the second largest mall in Kolkata. commercial office space. This project comprises of a 5 Kolkata’s prime residential locations such as Ballygunge floor mall including retailers such as Shopper’s Stop, Jack and Queens Park are in close proximity to the mall, & Jones, Only, Levi’s, UCB, Spencer’s, Marks and helping to attract the desired target market. Many Spencer's, Vero Moda, Parcos, Cinepolis, Subway. The international luxury apparel brands such as Gucci, Tumi, scheme also includes 21 stories of premium office space Jimmy Choo, Canali, Hugo Boss, Burberry, Emporio and car parking. The mall has a catchment of nearby Armani and The Collective have opened their first retail prime locations such as Ballygunge and EM Bypass. outlets in the city in this mall. Also, new entrants from the F&B category include restaurant chains such as Yauatcha, Irish House and Chilis’. CITY CENTRE II, NEW TOWN City Centre, New Town (350,000 sqft) is a prime mall with a tenant mix of local, national and international retailers. The mall primarily caters to the newly developed satellite town of New Town, Rajarhat along with northern fringes of the city. Brands such as Pantaloons, Max, Jockey, Nike, Puma, Apple, Samsung, UCB, KFC, Reebok and Crocs have outlets here. Cushman & Wakefield | Kolkata | 2018 5 KOLKATA SHOPPING CENTRES SOUTH CITY MALL MANI SQUARE South City Mall is currently being refurbished and is Mani Square is a mixed-use development with a total expected to restart operations in the first quarter of 2018, development size of over 700,000 sqft with the retail mall lending a fresh impetus to leasing activities in the market. measuring 355,000 sqft GLA. The areas is located on EM A few luxury brands in the apparel segment are expected Bypass, the eastern corridor of the city which connects the to lease spaces in the refurbished mall, with the city seen northern and southern districts. The mall mainly caters to as a gateway for luxury retailers in East India. South City the population of Kankurgachi, Maniktala and Salt Lake in Mall is the one of most successful mall in East India with northern and eastern parts of the city. It is the only mall on one of the highest footfalls.
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