Launched as a speciality home and decor destination in 2007, Ishanya is now morphing into a more wholesome destination for the entire family with food, multiple entertainment and sports options and a platform for the creative institutions, apart from retaining the home niche.
Deepak Fertilisers and Petrochemical’s (DFPCL) realty business arm, Ishanya Mall, is getting a makeover. Launched as a speciality home and decor destination in 2007, Ishanya is now morphing into a more wholesome destination for the entire family with food, multiple entertainment and sports options and a platform for the creative institutions, apart from retaining the home niche. The company will unveil its rebranded avatar on April 1.
Ishanya CEO Mahesh M said this was a significant transformation for the business and they were working on getting the balance right. “We are adding layers of entertainment, physical activity with indoor sports arena and creative space,” he added.
DFPCL is working with McKinsey & Co to transform the company and Ishanya is part of that. Idiom Design and Consulting, Bengaluru, has worked on the strategic design thinking and changing the look and feel of Ishanya. Earlier, the focus was on B2B and customer influencers but now it is more B2C with the focus on the end consumer and from having a product focus to a solution focus, Mahesh said. The mall has been reconfigured to incorporate the changes.Ishanya is spread across 4,00,000 sq ft and there are 80 brands in the home segment. Three year ago, it forayed into the F&B segment and now has 20 casual and fine-dining restaurants. It has added indoor sports with space for futsal and outdoor physical games targeting corporates and family groups. Two design schools have also set up their campus here.
Around 90,000 sq ft space has gone to the F&B category and this has improved occupancy and footfall. “We are improving performance y-o-y with increase in occupancy to 65% now and to around 85% next year,” Mahesh said, adding that the footfall has doubled. The firm management is committed to investing resources and effort in this business as they see promise and potential, Mahesh said. “There is huge opportunity to grow and the question is how we tap it by using the wisdom from the past and look into the future.”