Erode’s Texvalley gets a ‘destination mall’ makeover

ERODE: Texvalley, a B2B hub for the textile industry, located at a sprawling 20 lakh sqft area in Erode, is all set to metamorphose into south’s first ‘destination mall’ of its kind, housing both B2B as well as B2C business across segments, besides food, entertainment, and other lifestyle outlets.

Fully exploiting the growing demand for a destination mall in this region that comprises Karur, Erode, Tirupur, Coimbatore and Salem, Texvalley, in its new avatar, is dedicating over 4,00,000sqft for B2C business and lifestyle outlets.

Texvalley will house a hypermarket, a 5-screen multiplex, a 500-seater food court, 100+ ‘outlet’ vanilla shops, and five fine dine options, and a family entertainment centre.

Texvalley has appointed Beyond Squarefeet, a consulting firm specialising in providing solutions in mall development and mall management.

Currently, the textile market has 500-odd brands, representing textile and allied industries, and is making a turnover of about Rs 750 crore. However, the new mall will take the presence of differentiated local and global brands to 1,500 within the next two years.

As per a research report by AC Nielsen,a global marketing research firm, the turnover of Texvalley may cross Rs 5,000 crore by 2024. The report points out adding the ‘Outlet Mall’ to Texvalley, shall further give impetus to the footfalls, thereby making Texvalley the most sought after destination in the entire region.

P Raajashekar, MD, Texvalley, said, “the footfall of Texvalley is expected to grow multifold- from about 60,000 visitors a month during the pre-COVID years to over 5,00,000 businesspeople, consumers, and tourists every month in the next two years post the largescale infrastructure enhancements which are nearing completion. It is projected to provide direct and indirect employment to about 15,000 skilled people.”

Texvalley is owned by Erode Textile Mall Pvt Ltd, a special purpose vehicle promoted by two prominent business groups: Lotus group, and URC group, a construction company in south.

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