Sector: Real Estate
Client: A well-established Mumbai builder with residential projects, IT parks, an elite mall brand, and a 5-star hotel.
Promoter's Dream: To create sustained, profitable, growth by expanding the hotel and mall business, increasing volume in the residential sector, and through diversification.
The Avenues of Opportunity Recommended by OPENMIND
Diversify into Self-Storage: The client expressed interest in diversifying into logistics. OPENMIND MD, Mr. Richard Rothman recommended that the client pioneer the field of “personal logistics” by creating India’s first chain of branded self-storage warehouses. There are 46,000+ self-storage warehouses in the U.S., with 30 million customers. By serving the needs of urban Indians who are crammed together with increasing possessions and less space, the client can discover a vast opportunity for sustained, profitable growth.
Distinctive Branding and Positioning: The client currently shares a family brand name with other companies he doesn’t control. OPENMIND recommended that he create a distinct residential brand that delivers a unique set of relevant benefits targeted to upper middle income consumers: ready posession, fixed pricing, no extra charges and prompt after sales service. By professionally marketing this distinctive brand, the client will recover long-lasting opportunities for sustained, profitable growth.
First National Mall Brand: The client independently controls a strong Mumbai mall brand with two locations. As organized retail develops and international brands enter India, retailers will pay a premium for an easier and more professional national rental solution. OPENMIND recommended that the client create India’s first national mall brand by expanding through partnerships to up to 100 cities, uncovering an opportunity for sustained, profitable growth.
Actions Taken: The client appreciated and accepted the OPENMIND recommendations and is now into the implementation phase. There was promoter participation and involement in the entire process and decision-making.
The OPENMIND Advantage
Industry: The real estate industry is projected to grow at a Compounded Annual Growth Rate of 8-10% over the next five years.