Bombay Dyeing joint MD Ness Wadia says the group's real estate arm under him has drawn up plans to set up 30-40 shopping malls over the next five to seven years that will be spread across the country starting from Bangalore and Hyderabad to Delhi, Ahemdabad, Chandigarh and Kolkata. And each of them will be spread over 500,000 square feet with separate space for luxury brands. "We have tied up with some foreign luxury brands and are talking to some Indian players which can use space in our malls or we can jointly go to a third party,"Wadia told TOI.
As for the land, he says, the group will use some of the space that it already has and is talking to potential allies with whom it intends to tie-up. While the luxury brand spread is clear, Wadia says the other retail formats like hypermarkets is still being worked on.
Read more in The Times of India article.
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