Ambience Mall to be in full operation from 7 July

Ambience Mall, which is being promoted by Ambience Commercial Developers Pvt. Ltd., is all set to be operational from 7^th July this year. Located in Vasant Kunj in Delhi, the upcoming mall has a GLA (gross leasable area) of 1.1 million sq. ft.

Ambience Mall in Delhi will presently have some of the major anchors such as Shoppers Stop, Lifestyle, Pantaloons, Westside, Collective and PVR. According to a company official, the mall will have both the minimum guarantee and revenue sharing rental models with the retailers.

Anchal Kataria and Associates is the local architect of Ambience Mall, whereas Singapore-based DP Architect is the lead design architect.

Gurgaon-based Ambience Mall has been operational for the last few years and has become one of the remarkable and marvelous malls in the Delhi-NCR regions.

Spanish FMCG player Borges forays into Indian market

Borges, a famous Spain-based FMCG player has ventured into the Indian market and aims to turn into a Rs. 100 crore firm in India in the next 3-4 years. The company has announced to invest Rs. 60 crore for marketing its products till 2013.

The entry of Borges has brought its special olive oil in the Indian market. On the other hand, announced by Rajneesh Bhasin, Managing Director, Borges India, the company will introduce other products of its kinds like pop corn, table olive, vinegars and dry fruits later this year.

“India and China are the next big opportunities which Borges is looking into. The Asia-Pacific region is a huge growth engine for the company and India will be a big focus market for us,” Borges’ MD confirmed.

The company is looking to capture the 20 per cent share of the estimated 4,500 tonnes of Indian olive market within the next 3-4 year. This market is presently dominated by the domestic players like NatureFresh Oliante Olive Oil, Leonardo Olive Oil and Del Monte.

Rajneesh Bhasin also claimed that Borges India has already joined hand with several modern retail chains such as Big Bazaar, Hypercity, Metro and Godrej Nature’s Basket and all these outlets will have the Borges merchandise available within 2 weeks from now. He also clarified on the expansion plan saying that the initial phase will have in the six metros, whereas the completion of 1 year will count the presence of Borges in over 36 cities and towns. Presently, the company will source its products from Spain but later has a plan to build up plantation in India.

Globus to unveil 5 stores; ready to invest Rs. 30 cr

The Rajan Raheja Group promoted Globus Stores Private Ltd. has declared to include another 5 stores in its line of existing 25 stores all over the nation. The brand which was undergoing a downturn in the last year which resulted its slow store opening is now recovered, as affirmed by the company spokesperson. Globus has stated and average investment of Rs. 30 crore in this expansion in the cities such as Hyderabad, Nagpur, Pune, etc.

With the recovery at the financial level, Globus will also give weight in terms of increasing the count of private labels. The brand has inaugurated a designer studio at Andheri in Mumbai where a team of 25 designers works. Globus has invested Rs. 60 lakh behind this designer studio.