Sure, India is being touted as the next hot growth market in the luxury world, but not everyone is jumping for joy. Reason? One of the biggest hurdles for luxury goods companies here is the lack of upmarket retail space. Add to that high rental cost, and India is looking not-so-rosy after all.
However, that situation may soon change with the launch of several high-profile retail projects across the country. While the DLF Group has already announced the launch of it's luxury project Emporio in Delhi and Mumbai by the end of 2007, the Gitanjali Group is also pumping Rs 100 crore to set up exclusive luxury malls in other locations as well. Apart from offering exclusive retail space to luxury brands, these malls will also be equipped with world class digital exhibition and conference facilities.
Such joy!
Source: Indiaretailbiz.com
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