UB, Prestige Group announce retail destination at Rs 300 cr
To tap the growing number of high net worth individuals here, UB City, a joint initiative of the UB holding and the Prestige Group, on Tuesday announced a luxury retail destination - UB City
By PTI |
BANGALORE: To tap the growing number of high net worth individuals here, UB City, a joint initiative of the UB holding and the Prestige Group, on Tuesday announced a luxury retail destination - UB City-The Collection at an investment of Rs 300 crore.
UB City-The Collection will house some of the famous international and Indian brands in the luxury segment, UB Global CEO Shashikanth said.
To be located inside the upcoming UB City premises, the Collection has already signed up with 10 international brands like Louis Vuitton, Gucci, Mont Blanc, and Dunhill and is in negotiations with several others.
The Collection would house 38 stores and 23 brands and is expected to roll out in the first quarter of 2008.
Speaking on the UB City project, property developer Prestige Group CMD Irfan Razack said the project would have a luxury retail area, serviced apartments designed for global travelers, companies from the global network of the UB group, F and B outlets, and a luxury hotel.
UB City would be spread over 1.5 million square feet and envisions an upper crust shopping environment.
The project, with an investment of over Rs 300 crore, is being developed through a Joint Venture with UB having 55 per cent and Prestige 45 per cent.
The group would contemplate replicating the model in other cities if successful in Bangalore.
UB City-The Collection will house some of the famous international and Indian brands in the luxury segment, UB Global CEO Shashikanth said.
To be located inside the upcoming UB City premises, the Collection has already signed up with 10 international brands like Louis Vuitton, Gucci, Mont Blanc, and Dunhill and is in negotiations with several others.
The Collection would house 38 stores and 23 brands and is expected to roll out in the first quarter of 2008.
Speaking on the UB City project, property developer Prestige Group CMD Irfan Razack said the project would have a luxury retail area, serviced apartments designed for global travelers, companies from the global network of the UB group, F and B outlets, and a luxury hotel.
UB City would be spread over 1.5 million square feet and envisions an upper crust shopping environment.
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The project, with an investment of over Rs 300 crore, is being developed through a Joint Venture with UB having 55 per cent and Prestige 45 per cent.
The group would contemplate replicating the model in other cities if successful in Bangalore.
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