Retail leasing reached a 5-year high during JanJune 2024, taking 3.1 mn. sq. ft. across eight cities compared to last 5-year H1 period, as per the report findings announced by CBRE. On an annual basis, retail leasing witnessed a growth of 7% Y-o-Y in H1 2024 to touch 3.1 mn. sq. ft, compared to 2.9 mn. sq. ft. in Hi 2023. The report, 'India Retail Figures H1 2024' highlights real estate growth, trends, and dynamics across the retail sector in India.
In H1 2024, the absorption was led by Bengaluru, followed by Chennai and Delhi-NCR, accounting for nearly 59% of the total leasing. In the coming quarters, the influx of investment-grade mall supply will influence primary leasing trends, while leading malls across key cities will continue to witness strong demand for secondary spaces.
Strong demand for fashion & apparel products continued in H1 2024, primarily led by midrange, value fashion and athleisure brands, resulting in a ~39% share by fashion & apparel retailers during H1 2024. The entertainment sector (~13%) and Homeware and Department Store (~11%) were the other categories that drove leasing during the review period.
India continues to experience positive retail growth, attracting foreign retailers to establish a presence in key locations. Charles Tyrwhitt, a men's luxury fashion brand from the United Kingdom, opened its first store in Ahmedabad.
Additionally, Maison Margiela, a French luxury fashion brand, and Franck Provost, a French beauty and wellness brand, entered the Indian market by opening its first stores in Mumbai and Bengaluru, respectively. Other noteworthy expansions include the opening of stores by international brands, such as the Swiss luxury watch brand Breitling and the American luxury fashion brand Michael Kors in Chennai and Pune, respectively. In addition, the Japanese homeware brand Daiso Japan and the skincare and cosmetics brand ILEM Japan also opened stores in Chennai.
Diese Geschichte stammt aus der August 2024-Ausgabe von Images Retail.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der August 2024-Ausgabe von Images Retail.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Building the Midmanagement is Critical in a Scaling Organisation
Nirav Jagad, Chief People Officer of Sugar Cosmetics speaks about ensuring the right! opportunities for the right talent in a complex omnichannel organisation that is on a fast track to growth
Uppercase Upping the Ante
Travel gear brand Uppercase is upgrading the standard of luggage in India through innovative approach and prodcuts and sustainable practices
The Strategy is to Go City by City and Saturate Each
Gerard McGurk, Head of Retail and Commercial Operations at Index Living Mall and Mahesh M, CEO, Creaticity speak about Thailand's numero uno furniture brand's strengths, its India entry and strategy
Design and Experience Differentiate Indriya from Competitors
Sandeep Kohli, CEO of Aditya Birla Jewellery’s Indriya about the brand’s strengths, strategies and aspirations
At Good Glamm, AI Chatbots Have Slashed Workload by 70-80%
Deep Ganatra, Chief Product & Technology Officer (CPTO), The Good Glamm Group sheds light on the role of technology in the beauty and wellness industry and its impact on personalisation
How Blinkit, Swiggy Instamart, Zepto and Others are Redefining Shopping
A quick snapshot of India’s quick commerce landscape highlighting key players, challenges and opportunities
Electronics and Q-commerce: A Marriage of Convenience
Why more and more electronics and gadget brands are taking to q-commerce
5 ways D2C Brands Can Leverage the Power of Technology
The direct-to-consumer (D2C) market in India is at an exciting juncture, with brands redefining how they operate, innovate, and engage with consumers. But what does the future look like for these brands as they adopt technology?
The Business of Offering Immersive Experiences
Shopping centers are using immersive experiences to attract more shoppers and boost business
5 ways D2C Brands Can Maintain the Growth Momentum
D2C brands should embrace a customer-first mindset, leverage technology, and know when to expand offline to keep the growth momentum going
