CR2 Mall Launch Slated For June  ( April '19,2004, FE)

CR2 mall, which is a joint venture between Larsen & Toubro and Piramal Holding Ltd, is slated to debut in June. The mall, given its location and customer profile, will be more focused towards food and entertainment rather than shopping. To provide variety, food chains like Japengo—a Dubai-based Japanese fast food chain specialising in Japanese and Mediterranean cuisine—and Ruby Tuesday have taken space in the mall.

A senior official at Cross-roads said the launch of the mall was slated for May but has been delayed for operational reasons. “We are looking at opening the mall sometime in June,” said the official.

On the name CR2, the official said the idea was to give it a distinct identity, given the fact that the mix of the mall is more focused towards food and entertainment, with a five-screen multiplex and an array of food chains. “There will be shopping formats, but the model is focused more on entertainment and food,” revealed the official.

The space at CR2 has been sold out unlike the norm of leasing space which exists at Crossroads, the first shopping mall of the Piramal group, situated at Haji Ali, Mumbai. The management of the mall will, however, rest with Crossroads.

The official said it was decided to focus on food and entertainment at CR2 in view of the fact that it is in the middle of a business district at Nariman Point. “The customer profile is primarily working executives in various offices in the vicinity. The mall is aimed towards them,” said the official. Thus out of 80,000 sqft, more than 60,000 sqft is dedicated to multiplex and food courts, while the rest will have other shopping formats.

The official added that the mall will provide an alternative to the working population (who choose from offerings at the roadside food stalls or dhabas) to eat out. “It’s a question of options. Customers frequenting roadside stalls are white collared executives, who have no other alternative. They are willing to pay more for alternatives, which will come up with CR2,” said the official. Thus CR2 will have formats like Japengo, Subway and Ruby Tuesday.

Amongst the shopping formats, the official said apparel international chain, AfterSho-ck has also taken up space. The Poonawala Group in partnership with the Bin Hendi Group has also taken space in CR2 to set up fashion apparel format. An official from the Poonawala Group said the format in CR2 will be the beginning, and depending on the success it will be taken to other cities across the country.