Tuesday, September 11, 2007

Gitanjali Group, Select Infrastructure and DLF are opening luxury malls of International luxury brands and Indian fashion designers

Louis Vuitton, Dasandi, Cartier, Tiffany, Ferragamo, Hugo Boss and Dunhill have already booked space at the Emporio, DLF's 3,20,000 sq ft upcoming mall in Vasant Kunj, New Delhi.

Who’s who of the Indian fashion industry, including Tarun Tahiliani, Rohit Bal, Reena Dhaka, Kimaya, Asish Soni and Manish Malhotra, setting up their stores.

The Geetanjali Group has announced an initial investment of over Rs 100 cr towards luxury retailing. Its first luxury mall, spread over 45,000 sq feet, is expected to come up in Hyderabad by this year-end, followed by Delhi and Mumbai.

Another luxury mall, Square One at Saket in Delhi, has already opened its doors . Top Indian designers such as Neeta Paul, Vandana Bhargava, Rohit Bal, Jatin Kochaar, Anita Dongre, Punita Trrikha and Anju Modi have outlets at Square One, which is almost 80% occupied. Select Infrastructure too plans to open a luxury retail space - The New Delhi Dome - early next year.

Luxury is the flavour of the season for retail space. From hotels to malls, standalone stores and high streets — everyone is eyeing the luxury pie in India. Considering that more than 200 top global luxury brands are currently at various stages of setting up shop in India, which is considered to be among the markets offering biggest growth potential — it’s no surprise that niche luxury retail space is coming at a premium.

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