Grand Square, a medium-sized chains of shopping mall concern is really not known in the mix of other shopping malls, this would in the medium term impact its going concern.
In the race to be the top shopping mall in the market, several mall owners are seeing the importance of promoting their malls, at least to remain competitive.
Shopping malls are the new normal in Nigeria. Lagos, the country’s commercial capital with the smallest landmass amongst Nigeria’s 36 states has at least 10 shopping malls with at least six others under construction.
Grand Square operates five shopping malls in Nigeria. Two in Lagos, one in Abuja, Kano and Port Harcourt respectively. With a chain of about five shopping malls, it is a no-brainer that such entity must be promoted and properly branded to attract customers.
The mall has a different business model from its major competitors such as Actis, Palms (Persianas). Its business model is similar to Spar (formerly Park ‘n’ Shop). However, the company operates a franchise structure where it has maajor import rights to brands such as Westpoint, Xper, Loewe, Ligne Roset, Elemax, Hyundai generating sets and Omaha.
Grand Square is owned and registered as Grand Products Company Limited incorporated in 1987 is the West African leading specialty wholesaler and retailer of consumer electronics, household appliances, property.
The noose are tightening, everyone wants to own a shopping mall, Grand Square must wake up to the realities on ground to properly market itself.
