Retail Blitz – Mallz99 Dollar Stores Open in India
Released on = October 11, 2005, 1:46 am
Press Release Author = P.R Dept / Tim Gilby
Industry = Retail
Press Release Summary = Mallz99 chain of superstores has been launched in India. The
concept of the stores has been derived from the US concept of ‘Dollar Stores’, which
operate throughout the US and provide value for money to their customers. Mallz99
offers a wide range of imported products that are priced at Rs. 99/- (approx. US$
2), which is the value proposition and has a wide appeal for the Indian middle class
segment of the market. The Mallz99 chain (www.mallz.biz) has plans to open 50 stores
of 2,500-10,000 sft space over the next 2 years as part of their expansion strategy
in India, Nepal, Bangladesh and Sri Lanka. Mallz99 is providing to Indian consumers
a 'shopping unlimited' international experience in their neighbourhood.
Press Release Body = Mallz99 chain of dollar stores has been launched in India as a
fore runner to the retail boom in the country with the Walmart, Sam’s Club and
Costco entering the Indian market. Their first concept store opened in South Delhi
in Malviya Nagar last week. The store model has been derived from the US concept of
‘Dollar Stores’, which operate throughout the US and provide value for money to
their customers. The dollar store concept is apt for the Indian consumers who are
value shoppers and rarely get to travel abroad now have access to imported products
in their neighborhood.
Mallz99 offers a wide range of imported products that are priced at Rs. 99/-
(approx. US$ 2), which is the value proposition and has a wide appeal for the Indian
middle class segment of the market. The products are imported from U.S, Thailand,
China, Taiwan, H.K, Europe and Malaysia. There are over 1500 products available
ranging from gifts, cosmetics, household, plastics, hardware, automotive, fashion
accessories and jewelry, artificial flowers, candles, toys, perfumes, electronics,
kitchenware, glassware etc. The store adds new products on a weekly basis to make
revisits to the store more exciting and interesting for shoppers. “ Shopping
Unlimited ” is the chains punch line that actually is driving hordes of customers
into the outlet daily. A online shopping model is also being developed at their
website: www.mallz.biz for customers to order from their desk. The expansion
blueprint of the chain is to roll out 200 stores of 2,500-50,000 sft space company
owned and franchised
over the next 4 years as part of their expansion strategy in India. The retail
model is being implemented from mini-metros before graduating to the metros with
retail formats of mini to hyper mallz stores. The expansion plans will be
implemented in November. The company has international retail partners from the
U.S and Hong Kong waiting on the sidelines seeking to invest as soon as the
government opens up the FDI restrictions in the retail sector. The Indian branded
retail segment is estimated at Rs. 10,000 crore which currently accounts for 4% of
business rest is in the unorganized sector with the pop & mom type of operations.
The total size of the domestic retail market is estimated at Rs. 2,50,000 crore.
The company strategy is to offer a mall shopping experience in a bigger pop & mom
operational format which is the larger chunk of the unorganized sector to enable
it to achieve horizontal expansion in the country and focus on the 96% of the
retail market potential by bring part of it into the organized sector.
International franchise consultants are being retained to guide the company through
the complete franchising route, franchise selection, technical know-how and putting
systems in place for effective management of the operations. 24 financial and
investment partners are being bought into the project to fund the expansion of the
business. The company also has future plans to take out a public issue after 3 years
to fund its future expansion plans. The company chose not to enter the venture
capital market for its funding requirements in order to maintain control over
equity. The international retail partners will buy into the company for future
expansion funding when the FDI restrictions on the retail sector are lifted. The
future of Indian retailing looks bright.
Web Site = http://www.mallz.biz
Contact Details = Mr. Vikas Gulaty
Director
Mallz 99
Mail Address:
17 & 18 Corner Market, Malviya Nagar
New Delhi 110017, India
Phone: 91 - 98110 53751
Fax: 91 – 11 – 51764888
Email: mallz99@gmail.com
Website: www.mallz.biz
2010
