In the June quarter, CBRE's analysis indicated that global brands secured 25% of India's retail space, a substantial rise from the previous year's 14%. This surge in leasing resulted from established and emerging international brands, along with expanding domestic retailers.
Throughout the quarter, retailers rented 1.3 million square feet, with the fashion sector dominating at 38%, followed by food and beverage at 18%. Luxury brands and home stores held 11% each, while consumer electronics composed 7%.
Domestically, companies led leasing at 75%, while the rest came from Asia-Pacific, Europe, the Middle East, Africa, and the Americas. Anshuman Magazine, CBRE's Chairman & CEO for India, South-East Asia, Middle East & Africa, projected numerous international brands to enter across categories this year, particularly in luxury.
India's growth rate continues to attract brands from EMEA and APAC, with some American brands consistently showing interest in the thriving market. Property experts forecast around 24 international brands to establish in India this year due to post-Covid consumption surge, contrasting significantly with one in 2020, three in 2021, and eleven in 2022.
Prior to Covid, 12 to 15 brands usually entered annually. Samant Jerath from Jerath Properties emphasized that evolving Indian consumer preferences drive global brand growth via increased sales and expanded presence, propelled by social media.
The trajectory for global brand market share remains upward. Renowned international brands like Roberto Cavalli, Dunhill, and Foot Locker, along with Lavazza, Armani Caffe, Jamba, and The Coffee Club, are expected to make their debut in India this year.
