Vivek Biyani, the nephew of retail veteran Kishore Biyani, will launch a retail chain focused on direct-to-consumer (D2C) brands under the name Broadway, along with actor Rana Daggubati, Apurva Salarpuria of Salarpuria Group and Anuj Kejriwal of Anarock Retail.
This new retail format is a multi-brand outlet, which will house D2C brands under one roof.
The first store is set to open in Delhi in August this year, and subsequent store launches in Hyderabad and Mumbai are slated in September 2024 and March next year, the company said in its release.
Its store will be spread across 25,000-35,000 square feet.
This will be in addition to the shopping space and house over 100 Indian D2C brands offline in a content-to-commerce model.
“Just like We Work disrupted the traditional corporate structure with co-working spaces, Broadway is built on the vision that customer buying patterns have evolved in parallel with the way media has evolved over the centuries.
"Broadway is designed and built like a co-retail space for brands to create deeper connections and stronger engagement with their customers,” it said in its release.
Biyani said, “From the unique plug-and-play model with no lock-in costs or major capital expenses to creating various experiential properties, Broadway aims to create a seamless process for new-age digital brands to explore the offline retail experience.
"Furthermore, we aim to create a symbiotic space for brands to revolutionise the way they interact with both consumers and creators.”
He added, “For the new-age audience, their primary marketplace — social media — is also their entertainment centre, social hub, learning platform and news source.
"This new way of an enmeshed ecosystem among consumers, brands and influencers lacks resemblance in physical environments.
"The Broadway experience aims at addressing this void.
"Think of a social platform like Instagram in a physical world.”
“We believe that new brands will continue to rise to solve new-age consumer needs.
"Also, the younger consumer does not want to necessarily wear or use products which the younger generation wore.
"That is giving rise to a lot of consumer brands and we are creating an environment where these brands can come and participate in physical retail,” Biyani told Business Standard.
Kejriwal said Anarock will help bring in the real estate perspective to the new retail format.
“A lot of the learnings will come from these three stores.
"Also, we have to learn a lot from consumers.
"These learnings will help us decide how we expand further," he added.
