There is a tremendous pressure on MFL to acquire retail space, as this is the most reliable and growing channel business through other channels like multi brand outlets and departmental stores are profitable in the short term.
There is huge investment in terms of rental deposits and CAPEX Today, the rentals contribute substantially to selling expenses and hence overheads.
A little change in the rental rates impacts the profits of the company directly. Moreover since the contracts are usually over a long period of time the rates have financial impact in years to come.
MFL needs to maintain its discipline while acquiring space in this chaos. Establishing processes in an industry that is largely unorganised is a challenge for the role holder.
The major challenges involve co-ordinating with the teams internally and externally in terms of : Launch of new stores as per budget Square feet days Closure of unviable stores Extension of rent concession Recovery of dead deposits Reduce direct company capex exposure Ensure to maintain a motivated & result oriented team
Minimum Experience Level :
Report to :
Head Business Development, Lifestyle Brands