Phoenix Mills Ltd opens shopping mall in Lucknow; ensures safe shopping

As the gradual unlocking of India takes place, Phoenix Mills Ltd announced the opening of its grand palatial shopping mall, Phoenix Palassio, in Lucknow.

The mall is spread across 13.53 acres and a built-up area of 1 million sq. ft and is located on Shaheed Path Expressway. Speaking on this, the company said that Phoenix Palassio’s eclectic fusion is inspired by the classic architecture of European and Awadhi influence, which pays homage to the city’s rich cultural legacy and modern spirit.

Being aware of the COVID-19 threat, the company also states that, Phoenix Palassio prioritises the well-being and safety of its shoppers, many of whom will be making their first trip to a mall since the nationwide lockdown.

Phoenix Palassio has made significant investments in COVID-proofing at every touchpoint. These include minimal contact services, floor markers to ensure social distancing, UV screening of bags, pre-sanitised shopping trolleys, hand sanitisers placed at multiple locations for easy access as well as contactless payments at retail outlets and car parking. These have been implemented for customers, retail partners and employees, ensuring a safe retail experience for all.

Visiting a mall has been a recreational weekend activity for many families pre-Covid. However, with the advent of the pandemic, this has changed. Keeping that in mind, attracting footfall again to malls will be a pain point for all malls across India. This has hit the stock of Pheonix mills significantly, with the stock giving -30.63 per cent returns since the start of this year, underperforming S&P BSE 500 index which gave a return of -11.33 during the same period.