Malls remain overseas retailers’ favoured destination

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According to the CBRE’S latest report — “India retail market view H1 2013,” the National Capital Region (NCR) witnessed considerable activity in retail space in H1 2013, with brands such as Starbucks, Superdry, Sephora, Kenneth Cole, etc. making an entry into the region. Brands were not only keen on setting up base in the region, but are quickly following up with stores across the city to expand operations.

Key international brands across categories such as F&B, fashion, etc. continued to set up base in the region, with brands such as Italian restaurant La Tagliatella and British toy brand Hamleys launching their flagship outlets in Ambience Mall VasantKunj and DLF Place Saket, respectively. Italian footwear brand Geox has followed an aggressive entry strategy with outlets opening at DLF Promenade, Ambience Mall VasantKunj, Pacific Mall Subhash Nagar and Khan Market.

Furthermore, F&B brands such as Starbucks, Dunkin Donuts, Big Chill and Barbeque Nation also expanded operations during the first half of 2013. Brands in the health and fitness segment were also active during the review period, with Fitness First, Proline Fitness and Grand Slam opening outlets in the city. Considerable traction was observed in the electronics segment with brands such as Bose Electronics, Croma, Jumbo Electronics and Sony Centre expanding their presence.

While malls remained the favoured destination of international retailers, main high street locations also witnessed activity by key retailers. Brands such as Masaba and Louis Philippe took up space in Khan Market, while Connaught Place witnessed space uptake by Fab India and Fitness First. Greater Kailash continued to remain a popular F&B destination with Starbucks and Yo China Café opening stores in the market.

Commenting on the findings of the report, Anshuman Magazine, chairman and managing director of CBRE, South Asia Pvt. Ltd said, “Delhi-NCR will continue to remain on the radar of leading retailers with numerous global brands expected to set up operations in the region in the second half of 2013. The next few months are expected to witness increased interest from key global retailers who are keen to set up operations in the region. Whilst NCR region is expected to witness fresh supply; however Grade-A supply is likely to remain limited. The economic slowdown will also have an impact on the retail business which would result in retailers reviewing their overall consolidation or expansion plans.”