Garnering unprecedented success, Zara – the global apparel retailer, continues to expand its presence in India. In November 2016, it leased nearly 30k sq ft of carpet area on ground floor in the Oberoi Mall in Goregaon. The lease is structured in a way that Zara pays the higher of a minimum guaranteed rent of INR 100 psf per month on a carpet area basis or 9.5% of net sales (revenue share). In addition to the rent/revenue share, it is also bearing an additional INR 26 psf per month towards heating, ventilation and air-conditioning charges (or CAM charges) in Oberoi Mall.
Featured in : Business Standard
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