The share of luxury retail in India increased by 120 per cent in Q1, FY25 compared to the same time last year, as per a new CBRE report.
Luxury brands opened more stores during the quarter with leasing of luxury space rising to 0.18 million sq ft in Q1, FY25 as against 0.095 million sq ft in Q1 FY24.
In 2025, a lot of international brands entered India. For instance, French kids’ clothing brand Jacadi Paris opened its store in Mumbai as well as French women’s fashion brand Maje.
Many affordable international brands also launched their stores in India during the quarter. For instance, Spanish fast-fashion brand Bershka launched its store in Mumbai while casual wear brand Bewakoof is launching stores in Bengaluru, the National Capital Region (NCR), and Hyderabad.
Another brand specializing in traditional Indian clothing, Indriya has launched store in Ahmedabad, the NCR, and Hyderabad while men’s clothing brand, Snitch has increased its presence in the NCR, Bengaluru, Chennai, and Mumbai.
From 2022-24, over 100 international brands either forayed into India or expanded their presence in the country. This growth was spurred by the addition of 8.5 million sq ft of new mall space during that same period, which helped attract these international players to the Indian market.
In Q1, FY25, total retail leasing in India increased to 1.5 million sq ft, with 2.2 million sq ft of new retail space being available. By 2024-end, total high-quality retail space in the top seven cities in India reached 72 million sq ft.
