As the next step in its determined effort to bring outlets to new and emerging markets, TORG International has just signed a joint venture with Village Groupe to enter the Indian outlet market.
New Delhi-based Village Groupe has been pioneering the development of outlets in India for the past few years helping landowners create retail destinations par excellence. Whilst the group has so far brought together capital, architectural design, leasing, marketing and management expertise, they are now keen on adding international outlet know-how to their skills. In TORG International, a rapidly growing group of international outlet experts specialized in bringing the most fitting outlet concepts and development approaches to emerging and non-saturated markets, Village Groupe has found that additional expertise.
Deepak Kumar Sharma, President & CEO of Village Groupe, said: “Whilst anyone with money can build a mall, not everyone can operate it profitably, and outlet malls are altogether a different ball game. We are delighted that in TORG International we have found a group of professionals with a proven outlet track record eager to help us develop world-class outlet centres and offer an unmatched selection of international brands in India. We Indians love a bargain and we are convinced that outlets have a great future over here.”
“We have envisioned the Village Outlet as an expansive space giving the Indian consumer the trifecta of value retail, experiential dining and branded entertainment in a well-designed, open-air and world-class ambience on the periphery of a city. The Village Outlet is a space that will work at different times of the day of the week for different types of consumers – the Boomers, Gen X-ers, the Millenials and the Gen Z-ers. Everyone will have a reason to visit a Village Outlet at some point, and it wouldn’t be just for a bargain”, said Vinay Shenoy, Co-founder and Director of Village Groupe, of the design thinking and utility of a new retail space in the current context.
Village Groupe is a new age real-estate startup with a portfolio of multiple assets under development next to India’s major cities, across New Delhi, Bangalore and Pune. The group is endorsed by reputed partners and has successfully created vertically integrated platforms offering outlet centres, cinema exhibitions, food courts and branded family entertainment centres. Some of these projects in the pipeline will become part of tomorrow’s largest retail and entertainment destinations in the country.
Barbara Horatz, Partner of TORG International, said: “I have been coming to India for the last 20 years and I have always been convinced that outlets would do well in this country of close to 1.4 billion people. We feel that now, in the post COVID era, the time has finally come to pave the way for the next generation of outlets in India. Their experiential, open-air, out-of-town settings coupled with great bargains is what will attract people in the millions. We are very excited to be joining forces with Village Groupe who has the necessary resources and network to secure the appropriate sites and attract investor appetite.”
