In its fourth full year of operation, Phoenix MarketCity, Chennai has become the key consumption centre in the city. A superlative brand mix, premium shopping ambience and international level events and activations for consumer engagement are driving consumers to the mall. The mall witnessed occupancy of 92% during the year, registering aggregate consumption of ₹ 10,699 million, as compared to ₹ 11,289 million in FY2016. Trading density stood at ₹ 1,553 per sq. ft. per month, compared to ₹ 1,572 per sq. ft. per month, while the rental income was ₹ 1,286 million, compared to ₹ 1,196 million in the previous year.

Premium fashion was the key category of the year under review, with critical focus on women’s fashion brands. With its exclusive brand mix and strategic marketing, the mall has positioned itself as the premium fashion destination of Chennai. A sprawling parking space for 1,200 four-wheelers and 1,000 two-wheelers and valet parking service further adds to attraction of the mall. We also bagged the award for “Best Premium Mall” in Chennai by Times of India during the year.

New Additions

The expansive 3.7 million sq. ft. of built-up area offers a lavish spread of shopping, entertainment and hospitality space. GAP, Mamagoto and Forever New were the star brands that commenced trading during the year. Other major brands added during the year were Funky Monkey, Zivame, USPA Kids, One Friday, Aeropostale and Lenskart. The Mall has been positioned as the dining destination of the city through focussed F&B campaigns.

Mall Upgrades

Food Court at the mall has been earmarked for renovation during FY2018 by implementing international level seating and layout. Besides adding new brands, a key strategy during renewal has been to renovate the existing F&B brand with new look and feel. A standard signage system is being designed to enhance as well as simplify customer experience. In addition to this, the washrooms, basement and customer service desks are also being refurbished. A customer service desk and Smile Centre has been installed to collect customer feedback and grievances with specified turnaround time

Moving Ahead

We will continue to focus on fashion-led events through the participation of premium fashion brands. The introduction of over 30,000 sq. ft. of area on the Mall’s 2nd floor, and the replacement of under-performing brands with star fashion and F&B brands will lead to significant uptick in consumption. Our marketing initiatives and high-impact events are aimed at establishing a network of influencers among the core target audience, with a focus on driving differing sets of consumers to the mall.

Sustainability Initiatives

We are regularly monitoring and analysing the utilisation of water and electricity. Water from the Sewage Treatment Plant is effectively recycled and used for cooling towers, flushes and landscape, with the aim of minimising the intake of fresh water. In addition, tube lights in basement are replaced with LED lights for power conservation and green energy. The organic waste convertor is being used to recycle wet garbage into manure to be used for landscaping, while dry garbage is effectively disposed through third-party vendor.