Sri Lanka set to become a more brand conscious consumer market

Thursday, 28 November 2013 00:01 - - {{hitsCtrl.values.hits}}

John Keells opens latest retail mall K Zone in Ja-ela
Prepares to celebrate Christmas in style

By Cheranka Mendis With the official opening of its latest mega shopping mall, the 140,000 sq ft K Zone in Ja-Ela, the property development arm of John Keells is confident of the future growth of its retail business, citing a growing brand consciousness among consumers. Crescat Boulevard, positioned as the premier high-end shopping mall in the city, is growing with demand for retail space and K Zone Moratuwa is progressing well since opening its doors three years ago. With such positivism, the company is anticipating big demand for brands as it looks forward for the new large-scale mixed development project that is to be constructed in Glennie Street within the next four years, featuring an extensive retail space to house some of the best known brands both locally and abroad to cater to domestic and international leisure and retail consumers. John Keells Land Head of Sales and Marketing – Retail and Commercial Romesh Jayewardene on Tuesday told the Daily FT that the general interest in shopping mall concept is growing in Sri Lanka based on the convenience factor and that within the next two to three years more brands will establish themselves in Sri Lanka. “There is a brand conscious consumer market that is growing within the country,” Fernando said. “Currently Sri Lanka is a small market compared to other countries in the South East Asian region. We are a few years behind when it comes to international brands in the market. However, this is bound to change within the next two to three years.” Worthwhile investment Having recently opened K Zone in Ja-Ela, which is the largest in size in their portfolio of malls, he noted that the average footfall during weekends have been assessed at 12,000-15,000. “There is no doubt that this was a need for this part of Colombo’s suburbs. K Zone caters to not only those in Ja-Ela but also to crowds from Negombo, Kadawatha and Kiribathgoda, as it is now easily accessible through the Colombo-Katunayake Expressway.” Fernando added that a substantial amount has been invested in this project. “It is a good investment as this creates a one-stop-shop model for consumers and is drawing in the expected crowds.” Construction on the up market retail property is said to have been completed within 15 months. Brands and rentable space An impressive 94% of the rentable space will be occupied by mid December. The management has been very selective in renting out the space for interested parties and have on board leading brands in clothing, accessories, lifestyle and technology. Currently the likes of Hameedia, Triumph, DSI, Benetton, Mother Care, Softlogic Galleria, Stone N String, Vision Care, Exclusive Lines, Emcee Disney Toys, Samsung, Panasonic, Abans, Singer and Keells Super, etc., have set up shop in the mall. Odel has taken up the largest space as a sole brand while Softlogic in total has rented out a substantial area through the brands that operate under the Softlogic umbrella. By mid December, the mall will also feature the international retail line ‘Splash’. “We have been very selective when it comes to choosing brands and companies to be featured at K Zone. We are conscious about the quality of the products they offer our customers as we look at enhancing lifestyles of those who shop with us.” Christmas at K Zone Ja-Ela Catering to both the family and friends segments of the market, Fernando noted that K Zone will host face painting and balloon stations along with game stalls with exciting prizes during the weekend. Magic shows have also been slotted in. A festival clown will do a routine walk through the mall along with other cartoon characters, and come Christmas, Santa Claus with his faithful elves will visit the mall. A line-up of special concerts and musical acts are also on the cards. Concerts are scheduled to start at 6 p.m. and will continue till 10 p.m. Live performances along with a Sinhalese classical Christmas carol show will also be hosted at the mall. Christmas at Crescat Shoppers will get an opportunity to enjoy relaxing live instrumental music by a violinist, saxophonist and a flutist at the main lobby area of Crescat during lunch (11 a.m. to 3 p.m.) from 2-24 December. The Food Court will feature acoustic music by Len and Shen, accompanied by choral performances by Adagio Choral and Estelle and Rage. Special live performances by Choro Benedicte can also be expected at Crescat during the season. Pix by Lasantha Kumara