Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
Nov, 05 2016

​Amazon likely to make its presence in Inorbit mall’s prime commercial space

Amazon has not confirmed the news neither has it denied about the development but it is heard that the space is believed to be used for expanding its IT and customer service operations.

Amazon, one of the leading e-commerce marketplaces might get to acquire the prime commercial space in Inorbit mall of Pune, which has been vacated by nearly all the brands it had, as per the source.

Amazon has not confirmed the news neither has it denied about the development but it is heard that the space is believed to be used for expanding its IT and customer service operations.

All the existing brands in the mall, barring three have already either relocated or shut down their operations. Report says that of the three, which are still operating is Shoppers Stop and Hypercity comes under in-house brands of K Raheja Corp, the entity that owns Inorbit. They will also move out within a month. The third one, apparel store Max, will relocate by the end of next week. The four-screen multiplex, PVR Cinemas, and the food court on the third floor will continue operations for now.

Rajneesh Mahajan, Executive Director, Inorbit Malls, said, "The city has witnessed an oversupply of retail real estate space in one micro-catchment (eastern corridor) wherein 74% out of the current 7 million retail real estate space of the city is located. This has resulted in an oversupply leading to a division in consumption and hence making stores unviable. Also there is no transaction with them (Amazon) for the mall building," he claimed.

On the other hand an Amazon India spokesperson clearly said that the company does not comment on what it may or may not do in the future.

In a report, a senior analyst with a leading real estate firm said, "Inorbit will soon be converted into commercial office space. Amazon might be evaluating this option like few other clients. However, as per market information, they have not yet signed anything with Inorbit."

Comment
Related opportunities
  • Bakery & Confectionary
    About Sweetish House Mafia:-Sweetish House Mafia (SHM) is a chain..
    Locations looking for expansion Maharashtra
    Establishment year 2013
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Home Furnishings
    About: Ambreh is backed by Aalidhra Techtex Pvt. Ltd. that owns..
    Locations looking for expansion Delhi
    Establishment year 1989
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Sports & Gaming
    About Us    Fitokids was established in the year 2016 as a..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Tea and Coffee Chain
    About:Business details;Chemical Resources ( Chereso ) is an research based..
    Locations looking for expansion New Delhi
    Establishment year 2003
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities