Name: India's luxury promise hits a wall: not enough malls to shop in
Uploaded: 2026-03-27T17:05:44.000Z
Duration: 2 min 16 s
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India has millions of newly affluent consumers who want to spend, but

not enough luxury stores in which to do it.

Top brands are struggling to expand amid a severe shortage of high-quality retail space.

The country has three luxury malls, one in Mumbai owned by the Reliance conglomerate and two in New Delhi owned by real estate developer DLF.

Here's DLF's head of luxury malls, Saurabh Bharara.

So I think that young, rich population in India is growing, and that's where the real market is.

Uh, most of these, uh, people actually travel abroad, uh, to buy those luxury products.

Uh, they're waiting for something to open up in India, uh, for new brands to come into India so that they have easy access to those brands in developments around the city.

India ranks fourth globally in the number of individuals with wealth above $100 million, behind the US, China, and

Japan, according to Knight Frank's Wealth Report 2025.

It has nearly 1.5 billion people, the largest population in the world, and

far less mall space than China or the US, says property consultancy Anorak.

For Delhi itself, I think there could be more, considering the distances between, you know, um, places.

But developers need to make sure any new malls are leased out by the right brands.

Luxury consultant Sheetal Jain says that's to ensure a return on their investment.

It is a challenging, uh, thing for both brands and developers.

So if you look from the lens of the brands, as we know, the rentals are too high.

And at the same time, for the developers also, it is very challenging that how do they get the right brands, how do they get if they have created, how do, do they get that money?

DLF is planning to double the leasable space of Emporio Mall by the end of 2028.

Louis Vuitton and Bulgari are enlarging their stores, while Gucci, Chanel, and

Dior have doubled their footprint over the past two years.

And Bharara says he knows of 15 top brands ready to enter India tomorrow if the space was available.

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India's luxury promise hits a wall: not enough malls to shop in

struggle

access

severe

property