Brands
Mumbai’s iconic 97-year-old Parle-G factory gets clearance for commercial redevelopment
MUMBAI: Mumbai’s industrial past is being dismantled brick by brick—and replaced with glass, steel and balance sheets.
The iconic Parle-G biscuit factory in Vile Parle East, where India’s best-known FMCG brand was born, has received clearance for redevelopment into a large commercial complex, marking another milestone in the city’s relentless conversion of legacy industrial land into real estate gold.
The redevelopment plans were first submitted to the Municipal Corporation of Greater Mumbai in mid-2025, followed by applications for environmental approvals, according to a Hindustan Times report.
The Parle Products land parcel spans 5.44 hectares (13.45 acres) and will be redeveloped with a total built-up area of 1,90,360.52 sq m. Of this, 1,21,698.09 sq m falls under Floor Space Index (FSI), while 68,662.43 sq m is classified as non-FSI construction. The estimated project cost stands at Rs 3,961.39 crore.
The proposed commercial project will comprise four buildings, each with two basement levels. The A-wing of the first three buildings will rise to six floors. In Building 1, the B-wing will include retail and office spaces on the first, seventh and eighth floors, while floors two to six are designated for parking. The complex is expected to house retail outlets, restaurants and food courts.
The Parle redevelopment is the latest chapter in Mumbai’s sweeping reinvention of its industrial landscape. From shuttered textile mills in Central Mumbai to former factories in the suburbs, land that once powered Bombay’s manufacturing economy is now being monetised to fuel a services-led future.
The transformation began in the 1990s with the decline of the textile industry and accelerated after changes in development control regulations unlocked vast mill lands in areas such as Lower Parel, Worli, Mahalaxmi and Prabhadevi. Landmark redevelopments at Phoenix Mills, Kamala Mills, Bombay Dyeing Mills and others reshaped the city’s skyline, blending luxury housing, offices, malls and hotels. High Street Phoenix emerged as a template for mixed-use urban regeneration.
The shift has since spread beyond textiles. Across Andheri, Kurla, Goregaon and Mulund, old biscuit factories, engineering units and warehouses have been converted into IT parks, co-working hubs and residential projects, mirroring Mumbai’s broader move away from manufacturing.
More land is waiting in the wings. Railway land, Mumbai Port Trust parcels along the eastern waterfront, and salt pan tracts in the suburbs are expected to unlock the next wave of large-scale redevelopment over the coming decade.
As infrastructure improves in satellite cities around Mumbai, industries are steadily moving out, freeing up prime urban land for redevelopment. The logic is simple: cheaper land outside, richer returns inside.
Mumbai, it seems, is no longer baking biscuits. It is baking balance sheets—and the oven is still hot.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
