Long before India was making headlines throughout the world, J. J. Gumberg Co. and its sister company, Gumberg Global, had already recognized India’s enormous growth potential due to its rapidly growing middle class.
In 2005, facing a faltering U.S. economy and a saturated domestic retail market, a team of Gumberg executives traveled to the subcontinent to study the retail marketplace and existing infrastructure, as well as the country’s political, social and economic climate. After several months of analysis, the team concluded that India’s demographics and burgeoning retail sector presented a once-in-a-lifetime opportunity. A year later, an expatriate executive team moved to New Delhi with the expressed strategy of gaining first-mover advantage in the world’s largest underserved organized retail market.
To support this ambitious endeavor, the company has now recruited and developed an extremely knowledgeable senior executive team with extensive experience in the design, development, construction, leasing and operations of shopping centers. Key executive positions, including the CEO/MD and CFO, are held by Indian nationals with successful track records in international joint ventures and emerging market segments.
With the establishment of a fully integrated local operating company, Gumberg India Pvt. Ltd., Gumberg is committed to become the market leader in developing, owning and operating Western-style retail destinations in each of India’s most strategic markets. These developments will encompass a minimum of 1 million square feet of space, be anchored by major international and domestic department stores and attract a wide variety of retail tenants.
This comprehensive approach for developing modern organized retail malls throughout the country will both aid the Indian economy and bring immediate and far-reaching benefits to a growing yet underserved middle-class consumer. In addition, the company’s emphasis on the customer experience in all aspects of its developments and its continual reinvestment in each property will ensure their continued success. Guided by the company’s commitment to excellence and superior business model, Gumberg India will change the retail paradigm in India for decades to come.