ETAM, the French lingerie brand that has a joint venture with Kishore Biyani's Future Group, recently pulled out of Palm Beach Galleria mall in Navi Mumbai, together with six other retailers such as grocery chain Foodland Fresh and Manoranjan sarees.
10 malls expected to go off business this year
What's the mantra for reviving ghost malls? Most important, a right mix of products. They also need to transform into community spaces.
120 new malls came up in last two years, but 30-40 of their older peers downed shutters
Footfall at malls are down 20-25 per cent in the past couple of years.
Of the 300 operational malls in the country, just 5-7 per cent, or about 20 malls, are doing well, suggest analysts reports.
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