The growth in the Indian economy and the country's vast middle class with its expanding purchasing power are increasingly attracting international retail investors wanting to enter newer markets.
The mall known as UB City: The Collection, is a joint venture between the Prestige Group and Vijay Mallya, CEO and owner of UB Holdings. The exclusive destination forms part of the prestigious UB City development that is situated in the most affluent part of Bangalore.
The 193 752 sq ft GBA (60 000m2) UB City is a landmark mixed-use development consisting of commercial offices, a five-star hotel, banks, serviced apartments, food courts, exclusive high-end retail outlets, health clubs, cafes, restaurants and extensive parking facilities. On completion UB City will be one of the most dynamic, cosmopolitan and multicultural developments in India. Bangalore is an important commercial centre and the development is expected to considerably enhance the city’s business and tourism infrastructure.
With a rapidly expanding population of high net worth individuals, India has become one of the world's five largest markets for luxury products and this sector is expected to grow at a rate of 15-20 percent per annum over the next five years. There is great diversity in the Indian customer base and developers are beginning to understand the particular needs and aspirations of different market segments. In the last ten years, there has been a proliferation of traditional malls across India but demand is now creating a focus on niche markets and the necessity to provide differentiated shopping experiences. Research has also shown that the conversion rate for customer walk-ins into sales are as high as 70 to 80% in speciality malls as compared to 8% to 10% in traditional malls.
A number of prestigious foreign brands are infusing direct investment into the country through the single-brand retail window. UB City: The Collection features an array of some of the world's most exclusive brands including Louis Vuitton, Gucci, Fendi, Dunhill, Christian Dior, Canali, Mont Blanc, Van Cleef & Arpels, Estee Lauder, Tiffany's, Lladro, Vertu, Apple Zegna and Kimaya. Top watch brands will be well represented with Omega, Rolex, Patek Philippe and Breguet stores. Also featured are several big names in Indian haute couture, designer labels such as Manish Malhotra, Tarun Tahiliani, and Manish Arora. The food and beverage outlets feature a range of fine cuisines that include French, Pan-Asian, Italian and Indian offerings.
Bentel Associates International, a Johannesburg-based architectural and design firm were commissioned to create a themed retail environment and a visual brand for this luxury niche mall and its exterior food court, the Kingfisher Plaza. The multidisciplinary company offers a wide range of architectural and design services and has been exceptionally active in India for the last five years. With over 50 projects in various stages of design or construction, Bentel Associates International is currently the most active international design practice in India.
The company's interior design division, headed by Bentel Associates International director Graham Smith, is well known locally and internationally for its development of many successful Mall Interiors. During a trip to South Africa some years ago, Vijay Mallya visited MonteCasino and was impressed by the ambience and the skill and expertise that went into the detailed Tuscan environment. Inspired by the design, Mallya decided to utilize a similar concept for UB City's retail component.
The design of the chic UB City retail space utilizes neo-classical elements within a contemporary idiom. "Our brief was to develop a themed environment within the available retail space. The building, which houses the UB Group's corporate offices in the upper levels, is a very modern and contemporary structure," says Nick Kyriacos, CEO Bentel Associates International. "We were tasked with conceptualising, branding and developing the 125 000 square feet (12 000m2) mall. A highly detailed themed Italian village was initially conceptualised but this was later modified to allow for maximum enhancement of the tenants' corporate identities."
Comprising 42 retail shops and nine food and beverage outlets, a lot of thought and strategic planning has gone into the external and interior design of this unique mall. Achieving that effect has taken meticulous planning and scientific designing, something few would realise once on the mall floor. "The atrium is the focal point," says Kyriacos. The manner in which the line of sight is handled is an essential part of the design, the attention of shoppers needs to be directed through the vertical view in order to attract them to higher levels."
Smith says that the team carried out extensive research on the tenants and their branding and discovered a common element in the colour black. "We thus utilised black granite and glass as a unifying common denominator running through the shop facades. As much as it was themed, it was understated, which allowed the retailers, their merchandising and their corporate identities to stand out rather than the architecture."
"We were also tasked with developing a full graphics package - developing the Mall's logo and branding the centre. Again, utilizing the common black element, we adapted the graphics to suit this direction, the overall aim being to create, at a glance, an image of a mall that would be perceived as an exceptionally upmarket and sophisticated retail facility."
Publisher: eProp
Source: BIA