Oct 19 - Flagship Department Store To Open In Main Street
Owner says new multimillion-pound investment in Main Street “defies Brexit uncertainties and confirms confidence in Gibraltar economy.”
A new multi million pound investment in Main Street to create a “Flagship” department store is set to open soon. It will be one of the biggest multiple brand fashion stores not only in Gibraltar but also in the southern Iberian Peninsula. The project will provide a major contribution to the local retail sector, re-energising the Gibraltar shopping experience and boosting the tourist product.
“As an established retailer for over 20 years, I am confident that Gibraltar can survive any challenge it faces” comments Mr Bhisham Nihchalani, the Managing Director of Bharat Ltd and the driving force behind the initiative.
Defying Brexit uncertainties, he has managed to attract some of the biggest players in the fashion industry. Top brands that are normally very cautious in partnering or opening in new jurisdictions have already been signed up including Michael Kors; Just Cavali; Armani; Hugo Boss; Versace; Lacoste; Paul & Shark; Kurt Geiger and Polo Ralph Lauren.
“Tourism is one of the mainstays of the Gibraltar economy and within that the ‘shopping experience’ is one of the principal attractions for both the day and cruise visitors as well as the longer stay traveller,” says Mr Nihchalani, who is also at the helm of the very popular “Trends” shops in Main Street.
“This megastore is not only a destination for locals and tourists alike, it also places Gibraltar on the map alongside Marbella, Puerto Banus and other shopping destinations in the region and I am really excited at the opportunities it will bring in terms to economic activity and employment,” he continues.
The restoration of the ex-Barclays Bank building in the middle of Main Street will enhance the look of the façade and blend in naturally with the cityscape.
“The transformation of this notable building with a strong commercial tradition in the heart of our city into a shopping icon epitomises the adaptability and resourcefulness for which the local trading community has always been renowned,” states Mrs Gemma Vasquez Chairperson of the Gibraltar Federation of Small Business (GFSB).
The investment has also been welcomed by the Government: “I am delighted and welcome this project by local entrepreneur Bhisham Nihchalani. Following the June vote I am encouraged and pleased to see such confidence in Gibraltar’s future. It will serve as a powerful and visible “statement of intent” that is sure to boost confidence in this important pillar of the economy” said the Chief Minister, Fabian Picardo.
Work is now going apace to complete the refurbishment of the building which is being undertaken by Casais Ltd with completion and fitting out expected by early November 2016.
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