Furniture retailer Ikea India on Thursday said it will shut down its store in Mumbai's R City Mall by the middle of this year and explore omnichannel formats in the city. The store at R City Mall, which is spread across 72,000 sq ft, opened in June 2022 to test the viability of small-format stores. The company's plan to shut down the store illustrates the concerns surrounding the viability of running a small-format store, given the rising rentals.
It's not everyday one gets to watch Shilpa Rao live in concert in Mumbai.
Most chains saw a fall in same-store sales in the December-ended quarter, but that hasn't affected their expansion plans.
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The police arrested 46 troublemakers in Mumbai.
Just what do actors *do* the whole day?
Both partners would inject $200 million each in the form of equity and hold 50 per cent stake each. They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities.
Retailers and mall developers have seen 35-50 per cent growth in the first two weeks of the end-season sale.
India's notoriously volatile fans showed rare maturity in accepting the end of their team's reign.
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