DLF reworking strategy to raise food & beverages share to 18-20%

DLF reworking strategy to raise food & beverages share to 18-20%

Gurgaon-based luxury malls developer, DLF is planning to focus more on food and beverages and allocate around 20 per cent of space to the dining options across its project offerings, a senior company official said.

DLF, which has malls across Delhi, Noida, Gurgaon and Chandigarh, has been allotting nearly 12 per cent of the total space to F&B.

"We realised that we need to change our offerings to cater to the millennials who are looking for experiences. If we don't give them that, then retail will also witness slowdown as the footfalls will reduce," DLF Shopping Malls Executive Director and Head Pushpa Bector told PTI on the sidelines of the mapic India IRF.

She further said that the company is reworking on its strategies to increase the share of F&B to 18-20 per cent.

"From the current set up of 12 per cent, we can easily ramp it up to up to 20 per cent. However, we will not be able to increase it to 30 per cent across our mall offerings, but we are doing it in one of our revamped mall," Bector said.

As a part of this strategy, the company on Tuesday announced the re-launch of its mall, which it had shut operations since February this year.

"The mall, earlier known as DLF Place, Saket, after successful operations for 10 years, will now commence operations in a new avatar of a modern-day neighbourhood, for our customers in November this year," Bector said.

She said the new mall--DLF Avenue--has been curated to cater to the demands of the millennial and will have nearly 38 per cent of space for food and beverages.

"Apart from the retail and F&B space, we have allocated some area to co-working space operator WeWork. The intent is to give the millennial the convenience to work, play and dine under one roof," she added.

The re-imagined mall will see Indian and international fashion and apparel brands across fast fashion, athleisure and ethnic fusion and have new marquee brands, such as 'Uniqlo' apart from Under Armour and Go Sports.