Vivek Biyani Set To Bring A New Experiential-Store 'Broadway' To Mumbai, Delhi And Hyderabad Soon 'Broadway' contrary to the popular theatrical stage is intended to function as an immersive retail space, enabling customers to engage with businesses through a variety of encounters. It is based on a content to commerce model.
By Kavya Pillai
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'Broadway' contrary to the popular theatrical stage is intended to function as an immersive retail space, enabling customers to engage with businesses through a variety of encounters. It is based on a content to commerce model. The 30,000–45,000 square foot storefronts will accommodate live events, feature content studios, and a section where shoppers can customize their purchases.
The stores will include a variety of new age brands in categories such as fashion, beauty and personal care (BPC), and health and wellness, with an emphasis on appealing to the younger demographic that thrives on the internet. The attention span of this age is between 15 and 20 seconds. Broadway is a physical representation of a social marketplace. It ought to be a hangout for this generation, according to Biyani.
In August, the first store will open in Delhi, and in September and March of 2025, respectively, debuts are planned for Hyderabad and Mumbai. For his latest project, Biyani has teamed up with actor-turned-entrepreneur Rana Daggubati, angel investor-turned-entrepreneur Apurva Salarpuria, and MD & CEO of Anarock Retail Anuj Kejriwal. Broadway intends to increase its presence over time in the top ten cities, including Bengaluru, Chennai, and Ahmedabad.
Biyani said without disclosing the amount of investments that have gone into building this venture,"We are well funded for this financial year."
Although there will be a participation fee for brands partnering with Broadway, the association can help them reach a wider audience and attract new customers for their upcoming launches. Online brands can discover a chance here. Offline foray becomes crucial for online brands to scale beyond a certain point. According to Biyani, Broadway has signed 110 labels for the Delhi shop, and up to 125 brands are anticipated. Brands will be able to choose shorter partnership terms, ranging from three to six months. We are going to concentrate on the factor of freshness. Retail needs to be reimagined, in our opinion," Biyani stated.
The Broadway store will be located next to Foodstories, the retail business owned by Avni and Ashni Biyani Jhunjhunwala, the daughters of Kishore Biyani, in Delhi's Ambience Mall.
