Monday, March 19, 2007

Another Brigade Road in the making

Another Brigade Road in the making
New Indian Express

BANGALORE: In a classic case of David Beats Goliath, 100 Feet Road is all set to become the next Brigade Road and even beat it in terms of shopping volume.

All the major brands have set up stand-alone stores catering to a growing population of IT professionals who prefer shopping from places close to their workplace or residence. While exclusive Reebok, Nike and Adidas stores cater to the sports, footwear and accesories segment, people looking for fashionable clothing can drop by at Lewis, Pepe, United Colours of Benetton and Wrangler among others. Plenty of restaurants and coffee houses have also come up here.

Prominent among them are Little Italy and 100 Feet Restaurant, which have become hugely popular though they cater to a niche segment.

Jasvine Bhasin, store manager of Indigo Nation’s Biggest store in India, located at 100 Ft Rd says this is the perfect location for their store as their target segments are mainly the professionals below 30 who have a discerning sense of quality.

With a number of IT companies located close by, they concentrate more on promoting the brand than selling it. Dockers opened its biggest showroom in the world on this road recently.

The residents are in for a real estaste bonanza. Less than three years back, just 10 per cent of the place was commercial. Now it is almost 90 per cent with most buildings converted into stores.

The asking rate has touched an astronomical Rs 15,000 Per SqFt, says Raj Shekhar, a real estate agent. Shopping in 100 Feet Road can be an exhilarating experience unlike in Brigade Road where you have to fight the traffic snarls, locate a parking spot for your vehicle and then pray that its not been towed away at the end of your shopping spree.

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