INDIA SHOPPING CENTRE FORUM

INDIA SHOPPING CENTRE FORUM
          Retail Real Estate 2.0 : Building India's Next-Generation Community Assets

CONFERENCE AGENDA - April 11, 2018 (Wednesday)

10:00 – 11:00
MASTERCLASS BY INTERNATIONAL EXPERT: SHOPPING CENTRES 2.0 – REINVENTING THE THINKING IN BUILDING
INDIA'S NEXT-GENERATION COMMUNITY ASSETS

Learn from a highly experienced, international expert the nuances of:
     A Shopping Centre which delivers great experiences to the Consumer
              which delivers great returns (walk-ins, sales conversions, profitable returns) to the Retailers
                       and a satisfactory ROI to the investors

      International Expert: Jonathan Yach, mRICS, Director – Retail Operations, Virtuous Retail

About the International Expert:
-   Over 25 years experience in letting, operational, asset and mall management.
-   Based out of Bengaluru, Jonathan is responsible for Operations and Management across the Virtuous Retail portfolio of shopping centers.
-   International experience across Nairobi, Kenya setting up the CBRE (Broll Property Group) office for the region and then opened and managed the
    Garden City and The Hub Shopping Malls.
-   Earlier, CEO of PropCare, managing such retail assets as Manti Square Shopping Mall.
-   Held positions within Property Management and Asset Management companies based in South Africa.
-   Graduate of Cape Town University and is a registered Chartered Surveyor (mRICS).

11:00 – 12:30
INAUGURAL & KEYNOTE: THE NEXT-GENERATION OF RETAIL REAL ESTATE IN INDIA
What will Retail Real Estate version 2.0 look like?

     o    Rebooting the old shopping centres to develop a new era of Retail Real Estate 2.0?
     o    In addition to PE & Institutional funding what are the alternate funding model required – REITs, Debt-Equity
          financing, IPOs?
     o    Future lies in shopping centers being built as community destinations; how are Real Estate players progressing
          and what are the nuances to balance variables of tenancy vs the occupancy rates and profitability streams?
     o    To explore alternate revenue streams (Themed Festivals, Pop-up events, Product Launches, Product Placements,
          Flea markets, and more …) does real estate need to account for it in design stage?
     o    Is India ready for new and innovative real estate concepts, such as pop-up shopping centres with good examples
          being ‘Boxpark’ in London and ‘Common Ground’ Shopping Centre in Seoul. Because this is new and this is
          experience, does this tie-in with the economics?

o   Benchmarks and institutionalizing best practices we can learn from the West, such as USA and Europe, and
        closer home from Dubai, Singapore, Thailand?
    o   Innovation and new ideas into malls - specialized innovation and research centres like Westfield Labs to develop
        original ideas – do we have scale, is it cost-effective, is India primed for it yet?
    o   Does size matter - is big necessarily better – do we need to get more ambitious on size and scale? Largest mall of
        India - DLF Mall of India (2 million Sq.Ft.) vs Dubai Mall at 13 million Sq.Ft.

       Moderator: Pankaj Renjhen, Managing Director-Retail Services, JLL India
       Abhishek Bansal, Executive Director & Promoter, Pacific Malls
       Arjun Singh Gehlot, Director, Ambience Malls
       Javier Sotomayor, MD, Cinépolis Asia
       Nikhil Chaturvedi, Managing Director, Prozone INTU Properties and Provogue
       Nirzar Jain, Senior Vice President - Operations and Projects, Nexus Malls (Blackstone Retail Portfolio)
       Rajneesh Mahajan, CEO, Inorbit Malls
       Sonica Malhotra, Joint MD, MBD Group (Radisson BLU, MBD Zephyr, MBD Neopolis (Ludhiana), MBD Neopolis (Jalandhar))
       Vishal Mirchandani, CEO-Retail & Commercial, Brigade Enterprises
       Yogeshwar Sharma, ED and CEO, Select CITYWALK

12:30 – 13:30
Shopping Center Turnarounds and Workouts: ROLE OF INNOVATION AND OPERATION EXCELLENCE IN RENEWAL OF
A STRESSED SHOPPING CENTER ASSET
Role of strategic design and repositioning in the success of a mall

o   Overbuilding, Recessionary cycles, Internet sales, decline of department stores, the experience economy and a
    changing consumer value equation and culture have all come together to make a very competitive landscape for
    shopping centers, making many malls redundant and languish as dead assets.
o   Many shopping centers and malls are distressed, in serious trouble and searching for turnaround and workout
    strategies to become viable again.
o   Thorough analysis of the center including its tenant mix, its trade area and capture rates, its physical facility, its
    competition and other factors impacting its performance, is required to get to the root cause.

How to build an overall strategy, often requiring repositioning and some redevelopment of the shopping center:

o   To Re-tenant or Redevelop?
    Redeveloping a mall in its entirety can be an expensive and risky proposition. While many malls have been turned
    inside out, from closed-air to open-air, it can be easier to re-tenant the existing structure, often with a grocery store
    as the anchor.
o   Curated Mix – One for all, and all for one
    On the tenant mix front, innovative malls are strategically rethinking the types of stores that consumers will respond
    to. Anchor tenants that drive traffic are still key, but there is a new emphasis on a curated mix of smaller stores that
    add a sense of novelty to the mall offering. It is also a good idea to make greater use of temporary, flexible spaces
    that can accommodate different stores over time. Pop up stores, showroom spaces and kiosks provide customers
    with a sense of the unexpected and give them a reason to treasure hunt.
o   Transforming the mall experience by leveraging technology and multichannel strategies.

-    Extending relationships with customers to before and after the mall visit - engaging customers through
         compelling content and creating deeper bonds through social media, proprietary sites and apps, loyalty
         programs.
    - Reach out to customers with customized offers, gift ideas and other targeted advertisements based on real time
         intelligence and location-based marketing.
    - Using technology to transform mall usability as a means of improving customer satisfaction. Decrease customer
         pain points (such as finding parking), while simultaneously creating entirely new delight points.
    - Utilize digital capabilities to take the shopping experience to the next level – taking a more active role in shaping
         the shopping experience, either by acting more like retailers or by partnering with them.
o   Differentiating the consumer offering, with a focus on experience and convenience.
    - Incorporating value-added elements that attempt to recast the mall as the new downtown, including concerts,
         arts centers, spas, fitness clubs, and farmer’s markets. These services provide a level of leisure and
         entertainment that can never be satisfied online.
    - Many redevelopment plans focus on entertainment - more experiential retailers, such as restaurants and movie
         theaters. A plethora of outdoor space is a must.
o   The Urban-Suburban
         Weave malls into the very urban fabric - customers prefer to be outside and to feel less artificial. New breed of
         shopping centres integrate so seamlessly into its urban surroundings that it can be difficult to draw any line
         between city and mall whatsoever. London’s Boxpark, Las Vegas’s Downtown Container Park and Miami’s
         Brickell City Centre are examples of mall-like environments that try to weave into the street life of a city.

        We bring to fore some insights from the developers and retailers who have done commendable work is restoring
        their shopping centres to buzzing retail arenas.

       Moderator: Anshul Jain, Country Head & Managing Director, Cushman & Wakefield
       Amit Sharma, Managing Director, Miraj Entertainment
       Anupam Tripasuri, Vice President, Oberoi Mall
       Bipin Gurnani, CEO, Prozone INTU Properties
       Jeremy Salmon, Main Board Director, Broadway Malyan
       Jonathan Yach, mRICS, Director – Retail Operations, Virtuous Retail
       Mahesh M, CEO, Ishanya Mall
       Man Mohan Bagree, Vice President & COO, South City Group
       Manish Vig, Retail Business Development (Head – Malls), Aditya Birla Fashion and Lifestyle
       Muckth Dograa, Head, DLF Place
       Shriram Monga, Co-Founder & Principal Consultant, SRED Advisory
       Surjit Rajpurohit, CEO, Amanora Mall

13:30 – 14:15 = Lunch

                                  14:15 – 15:15
                                  GROWING THE SHOPPING CENTRES PORTFOLIO - NEW ASSETS, NEW TARGET
                                  MARKET, NEW INVESTMENTS, CRITICAL PARTNERSHIPS, PAYOFF STRATEGIES

o   New Assets: Is India ready for new asset formats such as Specialty Malls, Lifestyle Centres, Strip Centres and
    Outlet Malls – who are the customers, which are the cities where they should come up first, what does it mean
    for existing malls?
o   The big focus on Transit-Oriented-Developments (TODs) – compact, coordinated, and connected – the exciting
    fast growing trend in creating vibrant, livable, sustainable communities with high density development around
    transport hubs. How has it fared in India so far, and can this model be another form of shopping centre and
    retail development in a big way with Airports, Cruise Terminals, Bus Terminuses, Railway land parcels, and Metro
    networks getting huge impetus and rejuvenated focus in urban and transport planning?
o   New Target Market: Mall positioning - are malls being designed and managed to cut through all age groups and
    cult preferences (Millennials vs Traditionalists). How to capture them both?
o   Right ingredients to build a footfalls and conversion strategy for every age group - age group of 8-to-80?
o   New Investments: Future investments - integrating digital with every facet is the present and future, but none of
    this comes easy while considering operational efficiency and viability. Should these investments be made now? If
    yes, to what quantum?
o   Payoff Strategies: Higher dwell time into greater Monetization - When you create Customer Experiences, you
    have a long-term and long-spending consumer who comes over and over again, while the current ticket size
    might be low and retailers have to accept lower revenues per sq.ft. Where will the balance be – Profitability or
    loyal Customer Experiences?
o   Resource Optimization: A shopping centre experiences different kinds of peak – for example huge crowds during
    themed festivals, over weekends, and during the Sale season – with vehicles and people jostling for space, while
    a lot of times there are barely a few footfalls. How do you optimize the mall resources in both scenarios? How to
    make shopping centres work at full capacity and lean periods – what are the fixed and variable investments that
    can be pruned or stretched?
o   Partnering for Performance: A mall needs a lot of partners and centralized services which are strategic to the
    smooth functioning and success of a mall – right from parking and maintenance to housekeeping and general
    upkeep. Plus, navigation to a mall is equally important in how the signages leading to the mall appear
    throughout the city, how prominently the mall features on navigator searches such as Google Maps, how is it
    listed in urban city maps and city guides, how the traffic flows leading to the mall driveway and ultimately the
    ease of finding parking spaces and the final exit. It is more and more critical that navigation to a shopping centre
    is a pleasurable experience, since that is the first impression and memory which a visitor carries to the mall, and
    that decides how much time and money he will spend inside the mall and his course of repeat visit. How do you
    build this and what are the partners you will need to draw this into your blueprint – from the concept stage, to
    execution and the daily operationalizing aspects.

   Lead context-setting presentation: Max KORDYLAS, Managing Director, Yellow and Co ( France )
   Moderator: Sanjeev Mehra, VP, Quest Properties India
   Akshat Agarwal, Head - Business Development, ITC Lifestyle Retailing
   M.V. Krishna Rao, Head - Retail & Commercial, L&T Metro Rail ( Hyderabad )
   Mukesh Kumar, Senior VP, Infiniti Malls
   Pramod Arora, CEO, Future Market Networks (Future Group)
   Shabnam Singhal, Managing Partner, SIRIUS D&E
   Sharad Sachdeva, CEO, Lite Bite Foods
   Siddhartha Natu, Head, DLF Promenade

15:15 – 16:10
SUNRISE CENTRES FOR GROWTH OF RETAIL - MALLS FOR THE NEXT DESTINATION
The Next 30 - Tier 2 & Tier 3 cities – Catapulting the next growth centres for malls
Rising affluence and lower rents in small-town India fueling the next retail boom

    o    Smaller cities witnessing a new level of urban renewal and growing affluence – ‘Smart Cities’ tag, urban housing,
         infrastructure development – how is this translating to developers seeing the next opportunity?
    o    With Flipkart and Amazon gaining a big share of their revenues from Tier II-III cities, is online an alternative for
         shoppers because of dearth of quality mall spaces, and availability of top brands? How can developers create
         niche experiences in their Shopping Centres to draw shoppers to stores?
    o    Does it help that a local developer has a better pulse on the city? Would national developers get into Tier-II-III
         cities or would it continue to be a preserve of more niche developers focused on each city?
    o    What are the top propositions which make mall developments offer higher profitability in Tier 2/3 cites - lower
         rentals, experimentation with new leasing formats, less competition as a handful of malls in the entire city?
    o    What is the research that developers undertake to decide which cities to target building their malls into (CSO or
         Census estimates, population demographic, per capita purchasing power, smart-city recognition, airport
         connectivity, good availability of real-estate, catchment size)?
    o    What is the developers take on these cities, that research has indicated to be top potential markets for
         upcoming malls : Jaipur Ahmedabad Lucknow Nagpur Vadodara Chandigarh Thiruvananthapuram Indore Kochi
         Bhubaneswar         Coimbatore Patna
    o    How have the investments worked out for Blackstone (Ahmedabad’s One mall, Elante mall, Chandigarh,
         Treasure Island Mall, Indore; Virtuous Retail (Surat, Mohali); Lulu Mall (Kochi)

We discuss what Retailers and Developers are doing to bring the next level of development in the growing markets of
Tier-2 and Tier-3 centres.

        Moderator: Vivek Kaul, mRICS, Head - Retail Services India, CBRE South Asia
        Ajay Nayar, Director and Promoter, FMI Limited (Silver Arc Mall, Ludhiana)
        Anuradha Singh, GM – Leasing, Runwal Group
        Jermina Menon, Vice President - Marketing, Virtuous Retail
        Manik Dhodi, Head - Real Estate, adidas Group
        Munish Baldev, CEO and Founder, J S Martin & Co.
        Sanjeev Rao, Director - Sales & Distribution, International Sales and Development, Raymond
        Terence Seah, Director & Head of Singapore Studio, Benoy
        Varun Shrotriya, Director, Studio 13 Design

16:10 – 16:25
Case Study Presentation : DIGITALISATION IN PARKING FOR SHOPPING CENTRES

Christian Grzona, expert in retail parking talking about the impact of digitalization in mall parking. What are the benefits
for the mall operator and for the customer and how can a professionally and fully integrated parking system help to
create a competitive edge and a customer centric experience.

        Christian Grzona, Regional Manager Asia-Pacific, Scheidt & Bachmann GmbH

16:25 – 17:15
HOW NEXT-LEVEL TECHNOLOGIES (AUGMENTED REALITY, VIRTUAL REALITY, DIGITAL) CAN BUILD GREATER VISIBILITY,
ENGAGEMENT, PROFITABILITY FOR SHOPPING CENTRES
Next Level Technologies creating the big differentiator in malls

AR and VR can exponentially increase the value that shoppers draw from your mall, and leave a desirable customer
impression. Discover new ideas how you can leverage Digital, AR, VR, and similar future technologies to:
    o Malls struggle to get enough visitors during weekdays, and during the daytime in weekdays plus also during non-
        Sale season. How to build higher levels of engagement with the customers to draw them to your mall and ensure
        a constant buzz and high levels of footfalls at all times – weekdays, daytimes, and non-Sale seasons?
    o Malls are getting bigger in size, and huge layouts make it daunting for customers to navigate what and where
        they need. How can AR/VR make navigation easier once they are inside the mall – finding a store, finding offers
        they need, personalization notifications which help them buy?
    o Malls compete with each other for same set of shoppers. Sometimes, there are three malls lined next to each
        other, or five malls in close proximity targeting the same catchments of consumers. How can then AR/VR help
        you build the USP and differentiated / premium positioning for your mall - keeping the audience engaged,
        keeping the message consistent, building recall value which is higher than the usual “activity” based
        communications?
    o Cutting-edge shopping experiences and marketing initiatives - driven through AR and VR – what’s possible?
        National Geographic did experiential marketing inside a mall, which projected images of animals, dinosaurs,
        astronauts, and even ambient environments amongst numerous curious shoppers - engaging shoppers via an AR
        experience. Samsung brought the power of imagination through VR gear, by opening a scuba diving shop in the
        middle of the desert in Australia, building a lifetime experience to experience an ocean for whom chances of
        access to the sea were slim. How can such similar experience drivers be utilized in malls?
    o Ikea makes it possible to see how a piece of furniture looks in your living room at the flip of an ‘app’. How can
        malls drive these innovations to drive shoppers to malls, and build experiences which can’t be matched by online
        shopping?
    o Facebook’s Augmented Reality Social Experience connects oneself with their friends via VR letting them interact
        through a virtual world - one can sit in a virtual room, watch movies, play games and interact with friends who
        are not physically present and could be sitting on the other side of the world. How can shopping centres deliver
        experiences even before somebody has entered your mall, or left your mall?

       Co-Moderator: Rajendra Kalkar, President – West, The Phoenix Mills
       Co-Moderator: Alexander Köth, Managing Director & Founder, Minodes GmbH (Germany)
       Alok Tandon, CEO, Inox Leisure
       Amit Chaudhary, Co-Founder & COO, Lenskart
       Harshavardhan Chauhan, Central Head of Marketing & Phygital, DLF Shopping Malls
       Kumarswamy Hiremath, Head - Retail Technology, DELOPT
       Nishank Joshi, Chief Marketing Officer, Nexus Malls (Blackstone Retail Portfolio)
       Sanjay Kumar Jain, Vice President, DB City (Bhopal)
       Shashank Pathak, Executive Director and CEO, Westend Mall

17:15– 18:15
            MALL DESIGN AND DEVELOPMENT – HOW DEVELOPERS, ARCHITECTS, TOWN PLANNERS, RETAIL DESIGN
            HEADS – SHOULD PLAN A MALL – FROM LAYING DOWN THE FIRST BRICK TO THE LAST STORE BEEN
        LEASED OUT

    o   Fundamental difference in how we conceptualize and build the blueprint of malls in India, and how the mall
        design and conceptualization happens in the West?
    o   How are developers planning their malls to become experience islands, and differentiate them from other malls
        – is there some brainstorming at the conceptualization stage between Architect, Developer, Operations Heads,
        Retailers – how can we make this more collaborative at the design stage itself?
    o   Is a compelling design and structure enough to differentiate a mall?
    o   Can enough differentiation come from marketing promotions after the mall has been built?
    o   Are retailers feeling left out at the Mall Design and Conceptualization stage – is it necessary to involve big
        retailers in the blueprint stage?
    o   Fun-Food-Fashion-Films – what are the peculiar needs of each?
    o   When a design company builds many malls at the same time, what all should be standardized to attain better
        economies, and what should be differentiated so that each mall has a unique vibrancy, and not a copy-paste
        look.

    o   Latest trends in malls (below) - is this the future of mall spaces? What do Indian developers need to do to build
        there futuristic trends into their blueprint? How can this turn into higher profitability for developers and
        retailers?

Centrum – Integrate with the city centre
    o Open air malls - atmosphere of a town center
    o Fully integrated and blended with the landscape

Green – Sustainable, Green, Eco
    o Environmental sustainability considerations
    o Accessible by public transportation
    o Rainwater harvesting system, more natural ambience, natural lighting, plants and trees, wood walls and floors,
        waterfalls, lots of glass façade

Open Exhibition
     o Malls be about much more than stores
     o Mix of tenant/public space moving from the current 70/30 to 60/40, or even 50/50
Expanded public spaces will need to be planned and programed over the year much like an exhibition - managed more
like content and media, instead of real estate

       Lead context-setting presentation: Chua Zi Jun, Director, DP Architects (Singapore)
       Moderator: Kaisar Kazi, Senior General Manager (Interior Design), Reliance Industries
       J P Biswas, Head – Leasing, Nexus - Blackstone Retail Portfolio
       Lalit Jain, VP and Head - Properties, Planning & Projects, Spencer's Retail (RP-Sanjiv Goenka Group)

     Manoj Agarwal, Head of Operations, L&T Metro TOD - L&T Metro Rail ( Hyderabad )
           Nimish Shah, President - Retail Operations - West, Lifestyle (Landmark Group)
           Rehan Huck, Head - Leasing and Business Development, DLF Premium Malls
           Shibu Philips, Business Head, Lulu Shopping Mall

19:00 hrs onwards
IMAGES Shopping Centre Awards 2018
                                                                                                (by invitation only)

* Final confirmation awaited
# Topics and speakers are subject to modifications, for continuous improvement of the program