Kolkata to Get First Luxury Mall
Sanjiv Goenka. Image courtesy: BCCL
Brace yourselves, shopaholics in Kolkata; you won't need to fly down to Mumbai, Delhi or Bangalore henceforth. Industrialist Rama Prasad Goenka's son Sanjiv is geared up to enter the real estate arena and build a big, fancy luxury mall in the city.
Reportedly slated to launch in the latter half of 2012, the luxury mall will span across 400,000 sqft of retail space, on three acres of land in central Kolkata. CESC Properties, a subsidiary of the group's power utility company, CESC Ltd, will build Kolkata's first luxury mall, Spencer's Galleria.
The mall will house about 20- 25 luxury brands, and labels like Canali and Gucci are already in the final round of talks. More brands, including Salvatore Ferragamo, Bottega Veneta and Ermenegildo Zegna, should also be on board in the next six months. Designed by RTKL, a British architectural firm and constructed by Larsen & Toubro, this will be India's fourth luxury mall.
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Sanjiv Goenka is also expecting to get a hold of luxury retail giant LMVH, which has 50 brands under its banner. Apparently there will be a lot of first timers at Spencer's Galleria, and we can't wait to see which biggies make it.