Elie Saab forays into Indian branded residence market with M3M group

Elie Saab to open first retail store this year

Global luxury fashion and lifestyle brand Elie Saab on Tuesday announced its entry into the Indian market with two branded residence projects in Noida and Gurugram in collaboration with National Capital Region (NCR)-based realty firm M3M India. 

 

The Lebanese eponymous luxury designer is also preparing to open its first ready to wear boutique shop in India later this year.

 

Scheduled for completion by 2030, the two ultra luxury housing projects will incur a total investment of ₹3,500 crore, and are expected to generate revenue of over ₹8,000 crore. 

 

The Gurugram project is part of a 170-acre development featuring 300 four-bedroom units at the cost of ₹2,000 crore. With a total developable area of 1.3 million square feet (msf), each residence will have layouts ranging between 4,200 square feet and 4,650 square feet. 

 

Residences in this project will be sold at ₹37,000 per square feet, with the starting price being ₹15 crore. 

 

Meanwhile, the Noida project will be developed by M3M’s group company Smartworld Developers in Sector 98 on a six-acre land acquired in an auction by the Noida authority. It will feature approximately 680 units with a total investment of ₹1,500 crore. This includes 200 luxury apartments and another 480 service suites designed to offer enhanced privacy. 

 

Units in the Noida project will be priced at around ₹33,000 per square feet, with the price range being between ₹9 crore and ₹12.5 crore for the 200 bigger homes. The starting price for service apartments would be nearly ₹3 crore.

 

Commenting on collaboration, Pankaj Bansal, promoter at M3M India and founder of Smartworld Developers, said that the partnership with Elie Saab represents an important step in our vision to create residential developments defined by design integrity, quality and long-term relevance. 

 

The developer has already secured deals with brands such as the Trump Organisation and watchmaker Jacob & Co to build branded residences in Delhi-NCR. “We are expecting at least two more deals to be announced before the end of financial year 2025-26 (FY26),” Bansal told Business Standard. 

 

Calling India a strategic market, Elie Saab Jr, vice chairman and chief executive officer, Elie Saab group, said that the group aims to bring a distinctive approach to design and living to India through its partnership with M3M India and Smartworld Developers.  

 

The luxury designer group is also close to finalising a location for its first store in Delhi, spanning 3,000-4,000 square feet. Indian customers make up almost 3 to 4 per cent of the group’s global clientele, Elie Saab Jr said.

 

“The Indian customer is very important today and will be even more important in the coming future. What we like about them are their aspirations, how open they are to the world, and how everyone has their own style. This shows how much we believe in the market,” he told Business Standard on the sidelines.

 

Executives from the group are on a two-day trip to India. Starting in the early 1980s, Elie Saab specialised in bridal couture and came to be known for his usage of lace, pearls, and embroidery and soon became a globally recognised name.