PE firms see new allure in old-world Indian retail
Investors like Blackstone and Xander look for malls, expecting growing middle class to fuel demand as more foreign brands open and online retailers ease aggressive discounting
Thu, Jul 14, 2016 - 5:50 AM
Private equity (PE) investors like Blackstone and Rothschild-backed Xander Group are looking for malls in India, betting that people will flock to stores as more foreign brands open and online retailers ease their aggressive discounting.
E-COMMERCE in India has been booming and online giants like Amazon are spending big bucks on the world's fastest-growing major economy. Yet some investors are pouring money into retail mainstays of a bygone era: shopping malls.