Strategic Consultant to Nexus Malls
In 2016, Nexus Malls decided to venture into India's booming retail market. Owned by the Blackstone Group, Nexus Mall is surging at a great pace and is established as one of the leaders in retail real estate industry in India with a portfolio of 5.4 million square feet of retail space. Their 9 malls are spread across Mumbai, Pune, Ahmedabad, Chandigarh, Indore and Amritsar, including Elante Mall Chandigarh, Seawoods Grand Central Mall, Navi Mumbai and Westend Mall, Pune.
Key work areas for the client
Reviewed existing F&B brands in terms of menu variety, pricing, concepts and cuisines – independent outlets, atrium kiosks and food court. Recommended changes to improve F&B portfolio in all areas based on customer profile and demand for formats/cuisines. Reviewed total revenue realization for 2016-17 and 2017-18 for all F&B brands. Suggested changes in commercial terms for brands that are under performing the average for the specific mall.
Reviewed existing F&B brands in terms of menu variety, pricing, concepts and cuisines – independent outlets, atrium kiosks and food court. Recommended changes to improve F&B portfolio in all areas based on customer profile and demand for formats/cuisines. Reviewed total revenue realization for 2016-17 and 2017-18 for all F&B brands. Suggested changes in commercial terms for brands that are under performing the average for the specific mall.
Final results and outcome
Conducted surprise operations audit to assess quality and hygiene standards in the restaurant kitchens for various malls. Shared formats for Operations Audit by internal team – focusing on food storage, hygiene conditions, food safety, equipment, cleanliness, menu display, printed menu, restaurant appearance and other areas, and mystery audits by third party firm – focusing on customer experience, quality of food, time for food to be served, service staff skills at suggestive selling and other areas. Helped establish metrics to identify under-performing restaurants at Elante Mall, Chandigarh on the basis of revenue, trading densities, locations and restaurant types. Compiled a list of restaurants for which leasing agreements and operational standards needed to be re-visited to establish a critical region and performance benchmark required by brands for the developers
Tasanaya suggested ways to improve the operations of the Food-Court including interiors, menu display, hygiene standards and brand mix and helped establish strategies to optimize the revenues for the developers. Tasanaya helped identify unique potential brands that have not entered the city to appeal to the target catchment for the mall. Tasanaya helped finalise commercial terms and do key client introduction and acquisition with those target brands