Erode Textile Mall eyes B2B, B2C segments through large format stores: Official

Texvalley, owned by Erode Textile Mall Pvt Ltd and promoted by Lotus Group and construction firm URC Group, would be setting up its first ‘mall’ in Erode to serve business-to-business and business-to-consumer segments through large format stores, the company said on Friday.

Texvalley has earmarked about 4 lakh sq ft of the total land measuring 20 lakh sq ft in Erode, to serve the business to customer segments in business and lifestyle in the region, a company statement said.

A hypermarket, five-screen multiplex, 500-seat food court, five dine-in restaurants among others were also planned. The mall was expected to serve the region — Karur, Erode, Tirupur, Coimbatore and Salem.

The initiative would see creation of 2,000 direct jobs and 15,000 indirect jobs and monthly footfall was expected to be around 60,000 visitors initially which was expected to scale up to five lakh in two years.

The company has roped in consulting firm Beyond Squarefeet in this connection, the statement said.

”The grand makeover is in alignment with our vision of promoting the business of our customers and boosting the experience of our visitors. Since inception, we have set several new benchmarks in the textile industry in India. The new Texvalley as South India’s only B2B and B2C integrated destination mall is in line with global retail trends,” Erode Textile Mall Pvt Ltd, Vice Chairman Devarajan C said.

”We expect that there will be a symbiotic relationship between B2B and B2C segments thus boosting business, enhancing customer experience and future proofing the asset,” he said.

Erode Textile Mall, Managing Director P Raajashekar said, ”The footfall of Texvalley is expected to grow multifold from about 60,000 visitors a month to over five lakh business people, consumers and tourists in the next two years.”

(With PTI inputs)