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The Rise of Experiential Fashion: Flagships redefining retail in India's malls

Evolving consumer preferences and a desire for more immersive shopping experiences is changing India’s retail space. A recent Cushman & Wakefield report on leasing activity in India's retail sector for January-March 2025 highlights this shift, particularly focusing on the rise of experiential retail concepts and flagship stores, especially within the fashion category. The report underscores a move beyond traditional retail spaces, with brands prioritizing larger, more engaging environments to connect with consumers. The report delves into key findings of Cushman & Wakefield report, analyzing the impact of this trend on mall leasing, store sizes, and prominent locations.

The report indicates a growing trend of fashion brands adopting experiential retail strategies, with flagship stores playing a crucial role. This involves creating retail spaces that go beyond simply showcasing products, focusing instead on providing customers with immersive and engaging brand experiences.

Trends and analysis

Shift towards experiential retail: Fashion brands are increasingly investing in flagship stores that incorporate elements of entertainment, art, technology, and personalized services. This aims to attract and retain customers by offering unique and memorable experiences.

For example, Adidas has invested in large-format stores that showcase the brand's full range of products and incorporate elements of sports and entertainment. Zara, H&M are also moving towards larger stores in prime locations, offering a wider selection and more visually appealing layouts. While not always ‘experiential’, the scale and design contribute to a more immersive brand experience. High-end fashion brands like Louis Vuitton, Gucci, and Dior are known for their opulent flagship stores in major Indian cities. These stores are designed to showcase the brand's heritage and craftsmanship, offering exclusive products and personalized service.

Impact on mall leasing: The demand for larger retail spaces to accommodate these flagships is influencing mall leasing trends. Malls are adapting by allocating more space to experiential retail concepts, often at the expense of traditional retail formats.

Growth in leasing: The report shows, leasing activity in the retail sector rose 55 per cent to cross 2.4 million sq. ft. (MSF) in the January-March quarter this year across the top eight cities. Fashion and F&B segments led space take-up in main streets across the top-8 cities with 0.80 MSF of leasing volume. In malls, entertainment and fashion were the biggest space consumers.

The report also highlights a significant difference in the average size of flagship stores compared to traditional retail outlets. Flagship stores typically range from 5,000 to 20,000+ sq. ft, depending on the brand and its experiential concept. Some can exceed this, particularly for international luxury brands. Traditional outlets usually range from 1,000 to 3,000 sq. ft. This shows a substantial increase in space requirements for retailers adopting flagship store model.

The Cushman & Wakefield report indicates heightened interest in premium high street locations in Delhi-NCR, Mumbai, Bengaluru, and Hyderabad.

Delhi-NCR: Connaught Place witnessed a 14 per cent year-on-year increase in retail space rentals, indicating strong demand for premium locations. Khan Market one of the costliest high-street locations globally, also saw rental increases.

Mumbai: The retail market saw leasing volumes of 0.58 MSF in Q1-25. Malls accounted for 55 per cent in overall leasing, almost 3.5 y-o-y growth while main street leasing comprised the remaining. Superior grade malls comprised 90 per cent share. The fashion segment led with 39 per cent share. For example, Nike has established flagship stores in Mumbai that offers personalized shopping experiences, customization options, and interactive displays. These stores often host events and workshops, transforming the retail space into a community hub.

Other cities: Bengaluru and Hyderabad also saw growth in experiential retail, with malls and high streets adapting to accommodate larger format stores.

Thus the Cushman & Wakefield report confirms that India's retail sector, particularly the fashion segment, is gradually shifting adapting experiential retail and larger format flagship stores. This trend is reshaping mall leasing, driving demand for larger spaces, and prompting malls to evolve into destinations that offer more than just shopping. The growth in cities like Delhi-NCR and Mumbai, along with the strategies of leading fashion brands, highlights the increasing importance of creating immersive brand experiences to engage the modern Indian consumer. This trend is expected to continue, with more brands investing in flagship stores and experiential concepts in the coming years.

The Rise of Experiential Fashion: Flagships redefining retail in India's malls

Crimzon launches new store to offer customized footwear in New Delhi

Expanding its retail presence, footwear brand Crimzon has launched a new store in New Delhi.

Located at the Defence Colony, the new store offers a wide range of footwear for all occasions.

It also offers customization services that allow customers to modify the heel heights of their footwear, adjust its straps, and also choose colors complementing their wardrobes.

Having embarked on a rapid expansion in the national as well as international markets, Crimzon plans to establish more stores across the nation in the next few months. It also plans to foray into luxury footwear market with the launch of a new men’s footwear range.

Sonali Dalwani, Founder, Crimzon, says, to ensure its each of its pair of footwear offers comfort as well as attractiveness, the brand blends tradition with innovation. It focuses on quality, craftsmanship and individuality in everything from customized designs to ultra-lightweight technology. Sustainability and personalized luxury offerings remain at the core of the brand’s operations.

Crimzon retails through its exclusive stores, website, online marketplaces, and multi-brand luxury boutiques across India.                             

Crimzon launches new store to offer customized footwear in New Delhi

Forever New captures the season’s spirit with Spring/Summer 2025 collection featuring Triptii Dimri

Women's fashion brand Forever New has launched its Spring/Summer 2025 collection, titled ‘The Summer Odyssey,’ with a campaign featuring its global brand ambassador, Triptii Dimri.

Showcasing lightweight materials, stylish matching sets (co-ords), flowing maxi dresses, and waistcoats, the collection captures the spirit of the season with its breezy silhouettes, vibrant colors, and dreamy patterns.

Dhruv Bogra, Country Director, Forever New India, states, the collection reflects Forever New's leadership in fashion and style within the women’s apparel market. With the launch of this collection, the brand continues to meet consumer demand for fresh and innovative designs by creating high-quality pieces that enhance the modern woman's wardrobe.”

Dimri adds, this collection feels like an extension of my own wardrobe—feminine, graceful, and effortlessly chic. Priced between Rs 4,500-Rs 12, 000, the Summer Odyssey collection is now available on the Forever New website and in their retail stores across India.

Forever New captures the season’s spirit with Spring/Summer 2025 collection featuring Triptii Dimri

India Circus by Krsnaa Mehta launches new ‘Artisanal Co-ord Sets’ collection

Contemporary Indian lifestyle brand, India Circus by Krsnaa Mehta has expanded its apparel range by launching a new collection of 'Artisanal Co-ord Sets.'

Blending contemporary styles with traditional Indian design, this new collection also expands the brand’s range of wardrobe staples designed for modern living.

Featuring bold prints, simple tailor and a rich color palette, this new Artisanal Co-ord Sets collection reflects the brand’s ongoing emphasis on heritage-inspired designs. Manufactured using premium textiles, the collection is inspired by India’s visual diversity, and incorporates regional art and architecture-inspired designs and patterns.  

Expanding from its core furniture, accessories and interior designing business, this new collection enables India Circus by Krsnna Mehta to offer wearable expressions of Indian artistry.

The collection is available on the brand’s direct to customer e-commerce store and brick-and-mortar outlets across the country.

India Circus by Krsnaa Mehta launches new ‘Artisanal Co-ord Sets’ collection

V-Mart EBITDA rises to 13.5% in 9MFY25

In the first nine months of fiscal 2025 (9MFY25), V-Mart’s brand Unlimited's EBITDA margin doubled to 14.4  per cent, while the losses of the company’s other brand, Limeroad's continued to decline, leading to the group’s overall EBITDA margin rising from 11.1 per cent to 13.5 per cent.

This positive trend continued into Q4, with annual revenue rising by 17 per cent Y-o-Y to Rs 32.54 billion. This growth was spearheaded by V-Mart and Unlimited, both achieving 18 per cent growth, driven by an 11 per cent same-store sales growth (SSSG) and a 12 per cent expansion in store numbers.

V-Mart's 2021 acquisition of Unlimited from Arvind Fashions aimed to expand its South Indian presence, acquiring 74 stores and related assets for Rs 1.5 billion. While making V-Mart a national player, it presented integration challenges. Unlimited, with a higher concentration of Tier-I stores compared to V-Mart, underwent rebranding and operational changes aligning with V-Mart's strategy. Some Unlimited stores were closed and replaced with higher-performing ones in smaller cities. Unlimited's average selling price (ASP) was reduced from over Rs 500 to Rs 430, still higher than V-Mart's Rs 340, but more comparable within apparel.

Despite limited net store additions and stagnant store space, Unlimited's focus on profitable growth yielded a 10 per cent SSSG in Q4 FY25, surpassing V-Mart's 7 per cent. Unlimited's sales per square foot grew by 12 per cent, matching the overall 13 per cent growth, positioning it as a future growth driver for V-Mart.

V-Mart's FY23 acquisition of Limeroad for its digital ambitions initially faced headwinds due to consistent EBITDA losses. However, management efforts to halve advertising expenses and integrate V-Mart sales through Limeroad have shown results. Limeroad's EBITDA loss decreased by half in Q3 FY25.

V-Mart, a value retailer with nearly 500 stores across 4 million sq ft., faced pandemic-related challenges and increased competition. Acquisitions and store expansions led to a significant increase in debt. However, the company has shifted focus to profitable growth, closing underperforming stores, improving efficiency, offering discounts, and expanding categories.

Reduced inventory holding periods and a recovery in rural demand are also contributing to improved performance. Store count and space grew by 7 per cent in the past year, with plans for 60-65 new stores in FY26. Foot traffic increased significantly, and SSSG remained strong at 10 per cent, led by growth in Tier-IV cities.

V-Mart EBITDA rises to 13.5% in 9MFY25

Engyne forays into menswear retail with Spring-Summer 2025 collection

To offer international design styles at affordable prices, premium men's clothing brand, Engyne is foraying into India's growing menswear retail market. The Bengaluru-based brand is launching its Spring-Summer 2025 collection exclusively online through a direct-to-consumer (D2C) approach.

The brand will sell its products through its official website, with plans to launch mobile apps for Android and iOS shortly after. The initial product range features essential wardrobe items made from Supima cotton and blended yarns, using fabric textures such as mis-jersey, micro-pique, interlock, jacquard, and French terry. Each piece is designed with careful attention to finishing, durability, and practicality, incorporating advanced printing techniques and embroidery.

Founded by Gnanaprakash, Karthikeyan K., Karthikeyan P, Ramesh Kumar, and Dinesh D.—industry experts with previous experience at global brands like Diesel and Guess — Engyne intends to fill a gap in India’s fashion scene where high-quality menswear isn't always widely accessible.

Karthikeyan K, Director, Engyne, states, more than just fashion; the brand aims to change people’s expectations of premium quality.  The company’s team has implemented a vertically integrated manufacturing model to manage both quality and costs internally. Dinesh D, Director,  explains, having its own vertically integrated manufacturing facility enables the brand to manage every stage of produc

tion – from selection to final stitching. This enables it provide high-end craftsmanship at a much lower price, he adds.

With its business model focused on quality control and affordability, the brand aims to set itself apart from fast fashion by offering products that are durable and wear-tested. The brand plans to expand its product line to include shirts, chinos, jackets, and denim in the next season. It is also exploring opportunities for international distribution, with a focus on showcasing Indian-made products that meet global standards.

Engyne forays into menswear retail with Spring-Summer 2025 collection

House of Rare launches debut store for Rare’Z by Rare Rabbit in Indore

A significant step in the brand’s national retail expansion strategy, the House of Rare has launched the debut store for its brand Rare’Z by Rare Rabbit in Indore

Located in the Phoenix Citadel Mall, the store spans 830 sq ft and caters to the increasing demand for premium men’s footwear and fashion in the area. With this launch, the brand aims to expand its presence in emerging urban markets throughout India. The company aims to deliver a more customized and experiential shopping model, specifically designed to meet the needs of today’s Indian consumers.

Pulkit Verma, Chief Business Officer – Digital, The House of Rare, shares, the launch of this store is a pivotal moment in the brand’s mission to offer Indian men a more personalized and experiential approach to footwear shopping. Through this store, the brand aims to connect with Indore’s fashion-conscious audience by blending convenience with premium craftsmanship and design.

The store showcases collections like the Inferno metallic series, the monotone suede Ragno range, and the varsity-inspired sporty line. It also features a carefully chosen assortment of streetwear apparel, aligning with the brand’s efforts to provide a comprehensive fashion experience.

The opening of this store at Phoenix Citadel Mall highlights The House of Rare’s strategic intent to expand beyond major metropolitan cities and cultivate stronger connections with regional consumers. As the retail landscape continues to evolve, this move demonstrates a focused investment in high-traffic locations with growing demand for curated fashion offerings.

House of Rare launches debut store for Rare’Z by Rare Rabbit in Indore

The Arvind Store to offer complimentary tailoring services across India

A complete lifestyle fashion destination, The Arvind Store has launched a new initiative titled,  ‘Made for You, Stitched for Free,’ to offer complimentary tailoring services across India.

EnsurING a seamless, personalized shopping experience, this initiative eliminates tailoring hassles while delivering a perfect fit.

The Arvind Store provides top-notch custom tailoring, ensuring impeccable craftsmanship and attention to detail. Available exclusively at The Arvind Store locations, free suit and sherwani tailoring makes premium tailoring more accessible than ever

Pranav Dave, Chief Business Officer – Knits & Retail, Arvind Ltd, says, the ‘Made for You, Stitched for Free’ initiative is designed to make custom tailoring more accessible while maintaining the highest standards of craftsmanship and quality.

Custom tailoring is increasingly seen as an extension of one’s personality and a way to celebrate personal achievements, making The Arvind Store’s latest free suit and sherwani tailoring offer a timely and relevant offering.

Alongside this campaign, The Arvind Store also launched a new linen collection featuring over 300 styles, including wrinkle-resistant and performance fabrics. The Store also offers the rband’s latest Primante and Ethnic collections, designed for refined craftsmanship and luxury.

Featuring natural fabrics that are soft, lightweight, and breathable, the Ethnic Collection offers exceptional comfort. Meanwhile, the Primante Collection showcases premium fabrics like Egyptian Giza Cotton, Superfine European Linens, and Australian Merino Wool. Crafted in

Arvind’s Italian Studio, this collection is ideal for both formal and business wardrobes.

With a focus on quality and innovation, The Arvind Store continues to redefine fashion retail.

The Arvind Store to offer complimentary tailoring services across India

Libas launches 4,000 sq ft store in Hyderabad

Marking a significant step in its South India expansion, 0Indian fast-fashion leader Libas has launched its latest flagship store in Sarath City Capital Mall, Hyderabad. This expansive 4,000-sq-ft store showcases Libas’s diverse collection, offering a premium shopping experience for modern Indian women.

Emphasizing on Hyderabad's importance in the brand’s Southern India strategy, Sidhant Keshwani, Founder & CEO, Libas notes, this is their first store in the city with plans for further expansion. He credited the brand's success to its ‘fast fashion’ USP, emphasizing their ability to quickly bring the latest trends to their stores, rather than focusing on niche markets.

Libas has also seen strong performance in the e-commerce sector. The post-Diwali dip was followed by a significant rebound in March, avers Keshwani.  The brand aims to increase its current 25-26 stores to over 80-100 by the end of the fiscal year, with revenue growth targeted at Rs 6.5 to 7 billion.

To fuel this expansion, Libas secured its first round of funding last year. Hyderabad is a key focus, with plans to add 5-6 more stores in the city within the next year. The brand operates with a pan-India supplier network, in-house design in Delhi, and outsourced manufacturing.

Founded by Keshwani and his father, Libas has evolved from Keshwani’s e-commerce aspirations and the family’s clothing export business. As a new-age brand, Libas heavily relies on digital marketing strategies, including influencer and moment marketing, and community building, shunning traditional methods like billboards and TV.

Expressing strong confidence in the continued growth of e-commerce, Keshwani states, Libas intends to capitalize on this trend as part of its ambitious expansion strategy.

Libas launches 4,000 sq ft store in Hyderabad

FitFlop opens third India EBO in Mumbai

Ergonomically designed footwear brand FitFlop has opened its third EBO in India in partnership with Metro Brands. Located in the Sky City Mall in Borivali, Mumbai, this new store follows the launch of the brand’s second store in the country at Lulu Mall, Kochi.

Spanning 524 sq ft, the store aims to serve the growing local community by providing a space focused on customer comfort, accessibility, and service. David Schuttenkopf, Chief Commercial Officer, FitFlop, says, with 12 freestanding concept stores now operating across the country and four more planned for this year, the momentum is truly exciting. The brand’s shared vision with

Metro Brands continues to bring it closer to consumers across India, he adds.

Both of FitFlop's stores in Mumbai and Kochi offer the brand’s complete product line for both men and women. The UK-based brand is known for blending biomechanical engineering with stylish footwear designs.

The brand’s Mumbai store brings its latest global design concept to life and introduces an all-new collection that’s high on style and powered by comfort-engineered products, notes Nissan Joseph, CEO, Metro Brands.

FitFlop opens third India EBO in Mumbai

Sweet Dreams opens 50th EBO in India

An Indian brand specializing in loungewear and comfort apparel, Sweet Dreams has reached a milestone by opening its 50th EBO, demonstrating a strong commitment to its physical store strategy.

Established in 1989, Sweet Dreams offers a wide range of products including athleisure, sleepwear, innerwear, and kidswear.

Hitesh Ruparelia, Chairman and Managing Director, highlights, the EBO model is a key driver in the brand's push towards higher-end products and increased profitability. Currently, about 11 per cent of the company’ sales come from its own stores, and the firm aims to expand this number, explains Ruparel, According to him, these stores provide much better profit margins—significantly exceeding the company's average of 28 to 30 per cent—because it eliminates reliance on intermediaries and has greater control over pricing and promotions."

Sweet Dreams has adopted a consistent, non-discounted pricing strategy across all its stores, which Ruparelia believes has helped reduce overall discounting. Today, consumers are willing to invest an extra Rs 500 to Rs 1,000 for superior quality and comfort. While traditional retailers might still focus on discounts, modern shoppers prioritize value, he notes.

Online sales account for 15 per cent of the company’s business, with their website generating approximately Rs 5 million in revenue each month.

Following a successful public offering last year, where they raised 649.8 million rupees, Sweet Dreams is financially stable and profitable. According to Ruparelia, they don't currently require additional external funding to support their store expansion plans.

Sweet Dreams opens 50th EBO in India

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