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9, December 2006 Pragati Maidan, New Delhi.
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Kolkata, which is near the bottom of the retail pyramid, is set to graduate to the top and embrace major foreign brands. `We recently did a survey on buying habits in Kolkata and were startled to find that the people are now ready to splurge and go for international brands. This could probably explain why mall developers are now willing to go for super-premium brands,` Trammell Crow Meghraj regional director Abhijit Das said. Haute Street, an 80,000 sqft retail space, is being planned exclusively for high-end international brands. `Haute Street comes at an exciting time in Kolkata, which is now ready for super-premium malls,` its promoter, Sujit Arya, said. `We are in talks with brands like Versace, Mango, Globus and Zara, while fashion watch brands such as Rado and Omega have already agreed to pick up space in Haute Street,` Arya said. The 10-storeyed complex that he is building will have retail space across three floors and complete with a bar lounge. It is expected to start functioning within a year. Not to be left behind, the developers of Forum are creating the 40,000 sqft Courtyard, spread over three levels and promising to cater to some well-known international brands. `We are keen to bring some niche international brands into Courtyard, while, at the same time, reposition the existing mall,` Forum Projects managing director Rahul Saraf said. The 10-lakh sqft South City, the big daddy of all proposed malls in Kolkata, has already roped in Lladro, Giordano, Lacoste, Benetton and Adidas.
Date: 25-Feb-2007
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