Retail majors are charting out new expansion plans in metros for January 2009 onwards, following the 20-25% drop in retail rentals. Retailers had preferred to wait and watch before expanding their operations, given the slump in footfalls. Industry experts expect a further 10-15% drop in retail rentals in the next three to four months. Demand, as a result, will pick up, they opine. Gurgaon-based Impact Retail Private Ltd, promoted by Tony Jashanmal, is planning to raise Rs 200 crore from six shareholders within the company. It will invest this amount in 30 Xcite consumer electronics retail showrooms in metros, including Mumbai, by December 2009, Srikant Gokhale, CEO, Impact Retail told FE. Prime retail locations in Mumbai, like Kemps Corner and Linking Road, have witnessed a 20% drop in rentals in the third quarter of 2008, according to a retail survey conducted by Cushman and Wakefield. According to Gokhale, We are currently scouting for prime locations in order to set up Xcite branded consumer electronics stores, targeted at the mid to high-end of the market. For the purpose, we are currently in talks with at least three to four real estate developers. Meanwhile, Reliance India Pvt Ltd is planning to launch a 20,000 sq ft store of Marks and Spencer at Runwal Group s R City Mall at LBS Marg in the eastern suburbs of Mumbai. According to Mark Ashman, CEO (India), Marks and Spencer, Due to increasing customer requests and demands over the past few years, we were planning to launch a store in the east of the city and R City gave us the perfect opportunity to do so. Sandeep Runwal, director, Runwal Group said that R-City will also be home to many other global brands including Nike, Reebok, Benetton, Adlabs and Disney. CP Sabu, managing director, India operations, Pyramis India (branded kitchen accessories showroom), said, We are planning to set up 215 exclusive showrooms in the next four months at an investment of Rs 20 crore.