Blackstone Group rebrands ‘Forum’ to ‘Nexus Malls’, spends Rs 100 cr on rebranding

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Blackstone Group rebrands ‘Forum’ as ‘Nexus Malls’

Consolidation into one name – Nexus Malls – comes after including eight Prestige Group malls in 2021

The Blackstone Group’s retail platform rebranded itself as Nexus Malls on Wednesday, with its right to use the iconic “Forum” brand name ending in September.

Being one of the largest in the industry with nearly 10 million square feet of shopping centers in 13 major cities, it has consolidated its 17 retail properties under the new brand identity.

Speaking to DH, Chief Executive Dalip Sehgal said the move will help ensure greater cross-functional synergies. He also said the business had rebounded from pandemic lows and sales were now 132% of what was recorded in 2018-19, declining to clarify the numbers. He also informed that the group had spent over Rs 100 crore on upgrading assets and marketing the new brand identity.

“We are delighted with the kind of trust our customers have placed in us, which is reflected in continued recovery and sustained growth. Currently, we have recovered over 130% of sales and over 100% of footfall at the portfolio level,” Sehgal added.

The consolidation into one name – Nexus Malls – comes after including eight Prestige Group malls in 2021.

Talking about its expansion plans, the group said it is looking for opportunities in all markets, whether metros or Tier II cities. “North India is definitely something we will be looking at and we are certainly stronger in the West and South, but even then we have room to grow.”

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Jennifer C. Burleigh