Retail in Asia

In Sectors

Mumbai malls struggle to stay put

Some 32 malls across India have shut in the last four years, with 12 of them in Mumbai alone, according to Beyond Square Feet, a mall management consultancy.

In the last one year, the city has seen City Mall (at Andheri), Kohinoor (at Kurla) and Dreamz (at Bhandup) close down, while others such as Evershine (at Lokhandwala) and Mega Mall (at Oshiwara) are poised to down shutters.

Launched last year with the promise of establishing itself as Mumbai’s biggest mall housing 300 shops over 4 million square feet, Phoenix Market City in Kurla, a midtown suburb of the metropolis, is now struggling to attract footfalls and retain retailers.