27 New Foreign Retail Brands Enter India in 2024 Amid Rising Luxury Demand
Thursday, 06 February 2025, 11:50 IST
India saw huge international retail expansion with as many as 27 new foreign brands having entered Indian market spaces in 2024, nearly double from 14 in the previous year, according to real estate consultant JLL India. The inflow of global retailers proves that India is becoming an increasingly large market for luxury products and international brands.
For four years in succession, 60 international retailers set up shop across the country by responding to sustained preference of global brands by Indian consumers. Over 2024, the highest strides were noted in beauty, cosmetics and wellness; footwear, bags and accessories; and fashion and apparel categories.
"India has captured most attention from the international retailers who have gradually increased their efforts to enter the country over the past four years", said Rahul Arora, Head (Office Leasing & Retail Services) and Senior Managing Director-Karnataka, Kerala, India, JLL.
The region that added 56% of the newly entered brands comes from the EMEA (Europe, the Middle East, and Africa) region. The penetration made by the French and Italian retailers is really noticeable. For over half of the international retailers opening their first store, the preference went for Delhi-NCR. The latter is followed by Mumbai. Last year, it has leased 1,90,000 sq. ft of luxury retail space for the 2024 cycle.
Luxury retailers continue to expand their presence in India, and nearly half of the total luxury space leased during the year was in fashion and apparel. This growing interest in India's retail market has been driven by urbanization, increasing disposable incomes, and evolution of shopping preferences.
Commenting on the retail real estate segment, Paras Buildtech COO Kunal Rishi said, "India's retail landscape is evolving rapidly. The influx of international brands, coupled with domestic brand expansions, has led to a surge in demand for high-quality retail spaces in prime locations".
Akash Nagpal, VP-leasing, Trehan Iris, said that Delhi-NCR is one of the key markets, driven by high demand and continuous international brand entries. He projected that Delhi-NCR will add over 2 million square feet of retail space in 2025, reinforcing its attractiveness for both domestic and international retailers.
With India emerging as one of the most dynamic retail markets globally, the trend of foreign brands establishing a presence in the country is bound to continue and further bolster the nation's retail growth trajectory.
For four years in succession, 60 international retailers set up shop across the country by responding to sustained preference of global brands by Indian consumers. Over 2024, the highest strides were noted in beauty, cosmetics and wellness; footwear, bags and accessories; and fashion and apparel categories.
"India has captured most attention from the international retailers who have gradually increased their efforts to enter the country over the past four years", said Rahul Arora, Head (Office Leasing & Retail Services) and Senior Managing Director-Karnataka, Kerala, India, JLL.
The region that added 56% of the newly entered brands comes from the EMEA (Europe, the Middle East, and Africa) region. The penetration made by the French and Italian retailers is really noticeable. For over half of the international retailers opening their first store, the preference went for Delhi-NCR. The latter is followed by Mumbai. Last year, it has leased 1,90,000 sq. ft of luxury retail space for the 2024 cycle.
Luxury retailers continue to expand their presence in India, and nearly half of the total luxury space leased during the year was in fashion and apparel. This growing interest in India's retail market has been driven by urbanization, increasing disposable incomes, and evolution of shopping preferences.
Commenting on the retail real estate segment, Paras Buildtech COO Kunal Rishi said, "India's retail landscape is evolving rapidly. The influx of international brands, coupled with domestic brand expansions, has led to a surge in demand for high-quality retail spaces in prime locations".
Akash Nagpal, VP-leasing, Trehan Iris, said that Delhi-NCR is one of the key markets, driven by high demand and continuous international brand entries. He projected that Delhi-NCR will add over 2 million square feet of retail space in 2025, reinforcing its attractiveness for both domestic and international retailers.
With India emerging as one of the most dynamic retail markets globally, the trend of foreign brands establishing a presence in the country is bound to continue and further bolster the nation's retail growth trajectory.
