NEWS

Luxury Brands Lease More Space as India Goes Premium

08 February 24

The share of luxury product makers in overall leasing rose to 9% in 2023.

New Delhi: Luxury watch, jewellery, fashion and apparel brands lea- sed 600,000 square feet space in 2023, up from 230,000 sq ft in the previous year and the highest in six years, amid robust demand in the premium consumer segment.

According to CBRE data, the share of luxury brands in overall leasing surged to 9% in 2023 from 3% in 2018.

“Growing consumer aspiration for global brands and an increase in the share of disposable income have been two of the key reasons why luxury brands are expanding their presence. Moreover, a growing share of organised retail spaces in major cities has encouraged brands to establish a footprint in key cities,” said Anshuman Magazine, chairman, India, Southeast Asia,

Middle East & Africa, CBRE. “The luxury sector, which saw more than two times annual in- crease in 2023, shows a promising trend with the entry and expansion of international brands.”

Canadian lingerie retailer La Vieen Rose made its debut in India in partnership with Apparel Group India and launched its first store in Noida in July 2023 and later expanded to Pune and Bengaluru.

Similarly, Rimowa, a German luxury luggage brand, entered India through its partnership with Reliance Brands and opened its first store in Mumbai.

“We are also in the final stages of opening a bridge-to-luxury mall as there is demand for space from these brands. Aspirational class of India is driving the consumption and more retail space is needed as brands continue to expand,” said Harsh Bansal, co-founder, Unity group, which operates six malls in Delhi. Other notable expansions by inter- national players include French fashion and apparel brand Bugatti Fashion and the American furniture brand West Elm opening their stores in Pune and American lingerie

brand Victoria’s Secret opening stores in Hyderabad and Pune.

Source- The Economic Times

Latest News
Progress report of 4 bridges • Bhanwarkuan bridge will be ready by June, Footi Kothi by August and Lavkush by October. IL&FS Puts Over 5 L sq ft GIFT City Assets on Sale Workspace Interior Firms See Big Business in Smaller Towns Luxury Hotel Chains All Set to Unveil Branded Housing Projects in India INFRA BOOST To invest ₹1,200 cr in project spread over 2.8 m sq ft Indore-Ujjain with six lanes and two new roads Realty Booms in Maximum City as Tata, Reliance Keep on Shopping Motilal Oswal Alts Raises ₹1,250 cr for Sixth Realty Fund Indian Office Market to Surge on Foreign Firms’ GCC Push In New India, Offices Buzz in Fresh Homes Work on doubling the Singapore Township Underbridge begins All five slabs of Rau Junction flyover are ready Realtors Tie up with Owners as Land Prices Zoom Embassy REIT Meets Full-year Guidance in Q3 Metro in the central region will run in an 8.5 kilometer long underground tunnel. Sunteck Inks Pacts to Develop SoBo, Bandra Projects Luxury Brands Lease More Space as India Goes Premium Metropolitan City Action Plan: Vertical development on both sides of Metro Ring, BRTS, residential-commercial high-rises and also new markets. 4 I-bus stops, smart signal devices also on the way to Satyasai, Niranjanpur flyover, guidelines will be decided after survey. Most of the marking work for metro corridor completed 100 feet wide road will be built till Super Corridor via Chhota Bangarda There will be a separate tender process for the station building of Lakshmibai Nagar. Preparations started to build Eastern Ring Road, tenders worth Rs 2200 crore called Forbes Global Plans 11 m sq ft Realty Projects in Mumbai, Delhi and Goa Three transit oriented development corridors proposed on metro network in Indore, with mixed land use in 500 meter width, will get the benefit of additional FAR. There will be dividers on the elevated bridge, not footpaths Three special corridors around the metro network in Indore…! 500 square feet maps will be passed in the smart city with a normal fee, the Western Ring Road will be elevated from Chandan Nagar to Airport Road. MR-10 bridge will be made eight lane… agency decided UP Govt Plans to Set Up ‘New Ayodhya’ City on 1,000 Acres High Street Retail Set to Take Off Big Navi Mumbai Realty to Get a Boost from Trans Harbour Link Abhinandan Lodha, Leela Plan Luxe Hotel in Ayodhya More Offices May Look to Turn Green Final preparations for the first phase of metro… launchers will be added between Rasoma’ and Radisson… pillars One thousand more acres of land will be included in Pithampur Smart Industrial Township 800 trees are becoming a hindrance in the metro route project, land is needed to proceed with the work through robot intersection. Rig roads will be constructed in all major cities including Indore, government will spend Rs 10 thousand crore on infrastructure in 5 years Home Sales Surge to a New Record in 2023 Housing Affordability Sees Improvement Across Cities India Inc Sets Up Transformation Offices to Guide Complex Projects Fifteen overbridges in Indore next year Phuti Kothi overbridge worth Rs 55 crore is being built at the fastest speed Godrej Prop Eyes ₹3kcr Top Line from New Project Property Values in Top Cities See Highest Appreciation in a Decade ‘Housing Affordability may Improve Next Yr’ Air India Leases Around 6.2 L sq ft in Gurugram for Training Centre New colonies and townships of Sanchi will also come under the ambit of Sanchi milk in Indore. Delhi-Mumbai Expressway by 26 January. Indore-Ahmedabad Highway will be connected to Panattoni Plans to Invest over €100 m in Indian Property Market Flexible Office Space Market Set for Big Growth in India Delta to Invest ₹100 crore in Peninsula Land Metro line will be laid over the railway line.. steel girder reached Hiranandani Group Ventures into Property Development Management Rs 4 crores. Sales of more expensive luxury homes doubled in 9 months Steps towards metropolitan: Indore: Industries doubled in 12 years, per capita income increased five times in 16 years Multimodal transport hub will connect two ends of the city with metro station. Metro speed: 33 kilometer ring will be completed in 2026, metro will reach Ujjain in Sihastha of 2028 Lakhs of saplings will be planted, that is why it has been named Green Corridor.65 km green Indore will build corridor development Authority Rents in 13 major cities grow 22.4% in July-Sept Metro took the launcher for construction of turn track on Ring Road Chalet Plans to Invest ₹300 crore in New Luxury Hotel at Delhi Airport Mumbai’s Luxe Housing Market on a Song The bridge is waiting for the road… only ten percent work left… RIL Plans to Invest *20k cr More in Bengal in Next 3 Years: Ambani Everest Food Promoter Buys 73-cr Luxury Flat in Mumbai Indians Dethrone British in Dubai Real Estate Market The scope of green building is increasing in India, Bengaluru is at the forefront. India Top Scorer in Asia-Pacific For Consumer Goods Biggies Realtors Put a Lock on Festive Offers Amid High Demand Brookfield Properties Refinances 2.1ker Debt 9 pillars of Footi Kothi Bridge constructed, pier caps being installed Godrej Properties on Track to Exceed Full-year Guidance on Robust Demand Metro construction work completed till Radisson Institutional investment in realty increased by 82% in 3 months till September Sales of luxury homes doubled in Delhi-NCR Robust Demand in Major Cities Keeps Indian Office Market Busy Oberoi Realty Sells its Entire Stake in Pune Township Project JV India ‘Priority Market’, M&S Accelerates Store Expansion Understand the legal implications before taking a loan against property Retail space lease increased by 46 percent in just 9 months Office Space Offtake all Set to Boom One and a half km long three layer flyover will rest on 8 pillar and 3 RE walls. Property Market Scales New Heights in Mumbai Bhoomipujan of bridge and inauguration of swimming pool at Lavkush intersection on 30th September Survey of private properties started for Metro underground track on MG Road, seven stations to be built here 84% OF 2,181 ACRES ALLOCATED FOR HSG IN OVER A YEAR Experion Buys 3 NCR Plots in Rs1.1Kcr Deal 20 more colonies will be legal, a guest house will be built for relatives of patients in MYH, and the road will be wide for the Mhow Naka bridge 85% increase in PE investment Indore’s master plan will be made only for 2041 Prestige Pockets SoBo Land for over Rs704 cr ‘Global Capability Centres Boost Indian Office Leasing’ Bhanwarkuan, Khajrana, Footi Kothi and Lavkush intersection on Monday Gift City to Deepen India’s Integration with Global Finance Carbon’s social cost is upto three times higher than estimated Yearning playgrounds ‘Capital of Sports’ REAL ESTATE FIRMS STUCK IN INSOLVENCY ‘India’s Seeing a Consumption Boom’ Intel to Sell Bengaluru Office and Lease it Back Transport complex in new loha mandi INDORE METRO TRIAL RUN UPDATE Country’s second largest ring road will be built in Indore MALLS WORRIED OVER THINNING FOOTBALLS AT MULTIPLEXES KAPPIRI, HABSHI AND AFRICAN SLAVE GODS THREE MODELS OF STARTUP COMPLEX ROCHE INDIA ARM PICKS UP 2L SQFT ON LEASE Road from Ringnodiya to Dakachya will be built by recycling method, Indore, Ujjain-Dewas will get link Retailers, eateries expand play to cash in on rising demand Cognizant Renews Two Lease Deals For Pune Office Space Preparation started for the Three Bridges to be built on the Bypass. Ward- wise Masterplan to be released: Three model roads planned between Navlakha and Teen Imli Over 80 flyovers planned for Indore, second only to Surat Footi Kothi Bridge Planned to be built in 18 months A Thirty Five Storey complex dedicated to startups to be built in the Business Hub Indore Pithampur will get a green field city project and 1000Cr to develop 200 Feet deep tunnel being built near Simrol, Bherughat , will reduce distance by 5 km Indore on track to become the ultimate Flyover City Tender to be issued for elevated track of Metro from Robot-Bengali Chauraha to Palasia