According to a study by CBRE India and PHDCCI, large-scale retail outlets will be the preferred choice for luxury brands setting up shop in India in 2023, reflecting a growing trend in the sector.
According to a joint study by CBRE India, a real estate consultancy, and the Indian Chamber of Commerce and Industry (PHDCCI), superstores were the preferred choice for luxury brands to open their stores in India in 2023.
The report, entitled “The Ascent of Indian ‘Luxe RE'”, highlights the leasing patterns of luxury stores in various retail formats between 2022 and 2023.
“In 2023, high street stores, typically open marketplaces in a prominent area with a strong retail presence, remain the first choice for luxury brands in India’s top eight cities,” said CBRE.
These stores, generally located in open marketplaces in prominent commercial areas, recorded an increase of over 100% year-on-year, totaling 27,870.9 square meters of leased space.
Spectacular growth in various retail formats
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