27 new foreign retail brands enter India in 2024 amid rising consumer demand for luxury items
According to JLL, 27 new international retail brands entered India in 2024—almost double from 14 in 2023, reflecting rising demand for luxury items. In the past four years, 60 global retailers have forayed into the market. Key segments include beauty, cosmetics, footwear, accessories, and fashion. With 56% of entrants from EMEA, notable French and Italian brands made strong inroads. Delhi-NCR emerged as the top location, followed by Mumbai, with high-end retailers leasing 190,000 sft
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New Delhi: As many as 27 new foreign retail brands entered India during 2024, almost double from the preceding year, to establish their presence in the Indian market and meet growing consumer demand for luxury items, according to JLL. Real estate consultant JLL India highlighted that in 2024, 27 new brands of international origin entered India, nearly doubling from 14 in 2023. "In the past four years, 60 retailers of international origin have forayed in the country to cater to Indian consumers perpetual preference for global brands," it said.
Beauty, cosmetics and wellness; footwear, bags and accessories; and fashion and apparel were the top three retailer categories to set retail footprint in the country in 2024. "India has attracted significant attention from international retailers, who have steadily increased their efforts to establish a presence in the country over the past four years," said Rahul Arora, Head (Office Leasing & Retail Services), and Senior Managing Director - Karnataka, Kerala, India, JLL.
Last year, 27 international brands entered the Indian market, with 56 per cent originating from the EMEA (Europe, the Middle East and Africa) region. French and Italian retailers, in particular, made notable inroads. "Delhi-NCR emerged as the preferred location for over half of these international retailers to open their inaugural stores, followed by Mumbai. The luxury retail sector maintained its strong momentum, with high-end brands leasing about 1,90,000 square feet of space in 2024," Arora said.
Luxury retailers continue to show keen interest in expanding their footprint in India, primarily within the fashion and apparel segment, which accounted for nearly half of the total luxury space leased during the year.
Commenting on the Indian retail real estate segment, Paras Buildtech COO Kunal Rishi said, "India's retail landscape is evolving rapidly. The influx of international brands, coupled with the expansion plans of domestic brands, has led to a surge in demand for high-quality retail spaces in prime locations." This trend is further supported by rising urbanisation, increasing disposable income, and evolving shopping preferences, making India one of the most dynamic retail markets globally, he added.
Akash Nagpal, VP-leasing, Trehan Iris, said, "Delhi-NCR remains a top market for retail space, driven by a surge in demand and the continued influx of international brands." In 2025, he said the Delhi-NCR is projected to add over 2 million square feet of retail space 2023 levels, further strengthening its appeal to both local and international retailers.
