Luxury Malls

Technology helps them in knowing footfall and where visitors are flocking to

Among the sectors, retail leasing was led by fashion and apparel which accounted for around 32 per cent of the total

Set to enter a "transformative era", the country's retail sector is expected to clock 10-13 per cent growth in the new year with players adopting technological advances to cater to luxury as well as value customers while inflation shadows continue to lurk in the background. Network expansion, a strong uptick in demand for premium brands, increasing traction for value brands in smaller cities and general elections will be among the key drivers for the retail sector, which is also moving from being just a tale of rural and urban markets. Besides, the continuing e-commerce growth with a surge in quick commerce, hyperlocal delivery services and impulse purchases will provide additional tailwinds. "The Indian retail industry's growth prospects for 2024 present a mixed picture with several factors influencing the landscape," Deloitte India Consulting Partner Rajat Wahi told PTI. The space has bright spots such as robust GDP growth, tech-driven transformation, continued festive season ...

Most malls that opened in 2023 had commitments even before they became operational, and were occupied soon after their opening

The mall will showcase a host of prestigious luxury brands, including Bvlgari, Cartier, Louis Vuitton, Versace, Valentino, Manish Malhotra, Abu Jani Sandeep Khosla, and Pottery Barn, among others

Going with the mood, Delhi's luxury hotels, too, are pulling out all the stops when it comes to food and hampers

Weakening financial profile of tenants, particularly of highly impacted sectors, such as multiplexes, food courts and restaurants, due to localized restrictions is expected to hit mall operators, says

Banks want tenants to make payment in escrow accounts

Luxury malls nowadays are designed to give wealthy customers the feel of a private club where they can shop at ease

At least half a dozen are in the works with increasing brand awareness and growing purchasing power in upper classes