From ET Realty
NEW DELHI: The luxury retail arm of real estate major DLF plans to launch a new luxury property, The Chanakya, and bring in brands such as Longchamp, Hunkemoller, G Star Raw, Juicy Couture, La Perla and Chanel Beauty to its Emporio and Promenade malls this year, a top official said.
“It’s a very exciting time for retail and we are excited that new brands looking to enter the country are doing it with us,” said Dinaz Madhukar, senior vice president at DLF Luxury Retail.
He said DLF Promenade has recorded year on year sales growth of 8%-9% while its footfalls have grown 11%-13%. “We are launching many new international brands like DC Shoes, BCB Generation, and G Star Raw,” she said.
While brands like Juicy Couture Chanel beauty have a presence in other malls in India, DLF Emporio will house La Perla and Longchamp’s exclusive stores in India. Brands like Bvlgari and Tumi have their exclusive stores in India at the Emporio in Delhi.
Madhukar said The Chanakya, coming up in Lutyens’ Delhi, will offer a mix of bridge to luxury and luxury brands. “We are talking to brands in the luxury space like Hermes, Valentino, Tom Ford Women, etc. and bridge to luxury brands such as Reiss, Kate Spade, Karen Millen, etc.,” she said.
Madhukar said over the past year 25% of the inventory in Promenade has gone through a churn as the company looked at reworking and relocating store formats.
“Since, we are 100% leased we have worked with brands Versace and DKNY to give us some of their existing space for brands like Bvlgari and Tumi at The Emporio. As Indian designers worked on expanding their collections we helped designers like Gaurav Gupta and Monisha Jaising move to a larger space,” said Madhukar.
She said categories like beauty, food and apparel continue to do well in retail. DLF Luxury will continue to encourage popup store formats to enable brands to get temporary platforms. “Brands like Below the belt, Show Shaa, Desi Pop, BVR Luxuries are good examples of the above mentioned format,” Madhukar said.