Fashion and clothing dominate India’s retail leasing in 2024: Report

27 January 2025, Mumbai

Fashion and clothing dominated leasing activity in the Indian retail market in 2024, with the sector accounting for 37 percent of the 1.2 million square feet of retail space leased in H2, FY24.

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As per a report by CBRE, key players like AMIRI, Aquazzura, and Foot Locker entered the market during the year, while luxury brands like Maison Margiela and Charles Tyrwhitt expanded their presence. The direct-to-consumer (D2C) sector also saw strong growth, contributing around 7 percent of leasing activity.

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Bengaluru led the way in space absorption, followed by Hyderabad and Delhi-NCR.

As per CBRE, India remains a major market for international retailers as Carrefour re-enters the market through a partnership with Apparel Group.

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Retail leasing in the country will continue to be driven by strong demand from sectors like mid-range fashion, value clothing, athleisure, etc., predicts the report.

Around 5-6 million sq ft of Grade A malls are expected to open in 2025, with supply in major cities like Delhi-NCR, Hyderabad, Mumbai, and Bengaluru increasingly significant. 

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