MAM
Inorbit to up marketing spends by 50% next fiscal
BENGALURU: Taking into account the number of footfalls that multiplex screens bring, Inorbit Malls (India) Pvt. Ltd., plans to add screens at all its properties, including the existing ones that don’t have them.
The company also plans to up its marketing spends from about Rs 100 million to Rs 150 million next fiscal with the addition of 2 more malls – one each in Bangalore and Baroda respectively. The Bangalore Mall will open on Independence Day – August 15 and the Baroda mall will open by March 2013.
Inorbit rents out space in its malls on a minimum guarantee plus fair share of revenue model, hence it makes sense for it to increase footfalls in its properties as well as to up the average spends per customer from the current Rs 700 approximately. The company conducts a number of BTL activities to increase consumer interaction in its mall catchment areas.
“Besides shopping, we want to provide entertainment to the customer at our malls. Even for the new format of smaller shopping centres with around 200,000 square feet such as the one that we are planning in Pune, we are looking at around four screens with seating capacities ranging from 350 to around 150,” said Inorbit CEO Kishore Bathija.
“In malls such as our first one which was in Malad in Mumbai where we did not have any screens initially, we have put up seven screens. Of the four functioning properties, at present we have seventeen screens working at three of the properties in operation, and have planned 31 screens at all the malls that have been constructed or are under construction,” added Bhatija.
For the Bangalore and the Baroda properties, Inorbit has planned five screens each. Bathija said that Inorbit was open to tie-ups with cinema chains in the country.
“To attract the consumer, we have been spending around Rs 20-25 million annually per mall towards print, online, events as well as radio every year on the four malls that we currently have in operation. The spends for the two new malls will be proportionate,” said Inorbit DGM Corporate Communications Nishank Joshi.
With around 3 million square feet of space, in operation and under construction, Inorbit has about 200 brands and 600 retailers on board at its malls.
Its creative duties are handled by Mudra and media buying by DDB Mudra.
Also read:
Inorbit Mall, Pune is the official ‘On-Ground Mall Activation Partner‘ for Pune Warriors
‘Smokey Cigarson‘ on a job hunt at Inorbit Mall!!!
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
