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Premium Mall Boom: Growth led by fashion and evolving urban demands

A wave of premium shopping malls are set to redefine the consumer experience in India. As per Cushman & Wakefield report, titled "Premiumisation of India's Retail Sector - Upscaling, Upgrading and Evolving," nearly 20 premium malls, covering 12.3 million sq ft. of retail space, are slated to open across eight major Indian cities by the end of 2026. This rise in premium retail development is triggered by demand from retailers, particularly in the fashion and apparel sector, seeking to capitalize on India's evolving consumer preferences.

Rise of premiumization

The report highlights the increasing "premiumization" of India's retail sector. This trend is characterized by the development of high-quality, experiential shopping destinations that cater to a discerning consumer base. The report emphasizes that this shift is not merely about adding more retail space but about enhancing the overall shopping experience through superior design, curated tenant mixes, and a focus on lifestyle and entertainment.

Numerous factors are working in tandem to push this growth. India's growing middle class and affluent population are driving demand for premium products and experiences. Also, consumers are increasingly seeking immersive and personalized shopping experiences beyond basic transactions.

Then both international and domestic brands are expanding their presence in India, demanding high-quality retail spaces. In fact, the fashion and apparel sector is a significant contributor to this growth, with brands seeking prime retail spaces to showcase their latest collections and provide a premium shopping environment. Malls are evolving into lifestyle destinations, incorporating entertainment, dining, and leisure options. Large retailers like Aditya Birla Fashion, Reliance Retail, Shoppers Stop, and Tata Trent are adapting to the premiumization trend by launching premium private labels, implementing omnichannel strategies, and expanding into Tier-II and Tier-III cities.

Metro’s dominance

India’s total Grade A mall stock stood at 61.5 million sq. ft. in 2024, with Superior Grade malls already comprising 63 per cent (38.9 million sq. ft.) of the total. The report underscores that metros like Delhi NCR, Mumbai, Bengaluru, and Pune are at the forefront of this premium retail expansion.  Specifically, Delhi NCR leads in Grade-A mall stock, accounting for 21.75 million sq. ft. This highlights the region's strong consumer base and retailer interest. These metros are experiencing significant investor and retailer interest, resulting in low vacancy rates of approximately 3-4 per cent in superior-grade assets.

As for rental growth superior-grade malls are outperforming their counterparts, with stock-weighted average rents increasing by 29 per cent since 2019, currently averaging Rs 315 per sq ft per month. This demonstrates the strong demand for premium retail spaces.

High street evolution

With limited space in top-grade malls, premium brands are increasingly turning to high streets in major cities like Linking Road in Mumbai, and Khan Market and Connaught Place in Delhi. These high-street locations have seen rental values surpass pre-pandemic levels, indicating strong demand for prime retail spaces.

The report also emphasizes the growing importance of experiential retail, with malls incorporating entertainment, dining, and leisure options to attract and retain customers. This trend is particularly evident in the food and beverage (F&B) sector, which is emerging as a key driver of foot traffic.

The report indicates a shift in mall tenant mix, with traditional anchors like hypermarkets and cinemas giving way to fashion, beauty, wellness, and experiential dining. The beauty and wellness segment, in particular, has seen significant growth, with average trading densities ranging from Rs 8,000 to Rs 12,000 per month.

The report highlights premium mall boom is expected to continue in the coming years, with increasing demand for high-quality retail spaces and experiential shopping experiences. This trend is likely to reshape India's retail space, creating new opportunities for brands and consumers alike. The fashion and apparel sector will continue to play a pivotal role in this growth, driving innovation and shaping the future of premium retail in India.

By 2026, Indian consumers can anticipate a more refined and luxurious shopping experience, with premium malls offering a diverse range of international and domestic brands, coupled with world-class amenities and entertainment options.

Premium Mall Boom: Growth led by fashion and evolving urban demands

Comet expands into direct-to-consumer retail with first flagship store in Bengaluru

Domestic sneaker brand Comet continues its expansion into the direct-to-consumer retail market with the launch of its first flagship store in Bengaluru.

Located on 100 Ft Road in Indiranagar, a high-traffic neighborhood, the store has been designed in collaboration with Mitali Juneja of Studio Ordonnance. The concept behind the design is a ‘post-impact zone,’ envisioned as the aftermath of a comet crash.

Inspired by a molten rock, the store’s layout features sculptural concrete finishes and textures. It integrates its footwear displays into the walls, giving the impression of sneakers bursting through them. This reflects the brand’s focus on unconventional aesthetics and conceptual storytelling in retail. Through this design the brand aims to redefine a sneaker culture resonating deeply with a diverse audience, says Utkarsh Gupta, Co-founder, Comet.

Besides being a retail  point, the store will also function as a community engagement platform. It plans to host limited-edition product releases, collaborative projects, and events featuring artists and creators such as Santanu Hazarika and Yashraj. This aligns with Comet’s broader retail strategy that blends commerce with culture and emphasizes brand experience as a driver of growth.

This move signals Comet’s entry into experiential brick-and-mortar retail, a trend gaining momentum in India’s growing sneaker and streetwear segment. By integrating physical retail with community engagement, Comet aims to build a stronger brand connection with its audience, particularly younger consumers who actively participate in street fashion and sneaker culture.

Comet expands into direct-to-consumer retail with first flagship store in Bengaluru

India Circus by Krsnaa Mehta launches new ‘Artisanal Co-ord Sets’ collection

Contemporary Indian lifestyle brand, India Circus by Krsnaa Mehta has expanded its apparel range by launching a new collection of 'Artisanal Co-ord Sets.'

Blending contemporary styles with traditional Indian design, this new collection also expands the brand’s range of wardrobe staples designed for modern living.

Featuring bold prints, simple tailor and a rich color palette, this new Artisanal Co-ord Sets collection reflects the brand’s ongoing emphasis on heritage-inspired designs. Manufactured using premium textiles, the collection is inspired by India’s visual diversity, and incorporates regional art and architecture-inspired designs and patterns.  

Expanding from its core furniture, accessories and interior designing business, this new collection enables India Circus by Krsnna Mehta to offer wearable expressions of Indian artistry.

The collection is available on the brand’s direct to customer e-commerce store and brick-and-mortar outlets across the country.

India Circus by Krsnaa Mehta launches new ‘Artisanal Co-ord Sets’ collection

V-Mart EBITDA rises to 13.5% in 9MFY25

In the first nine months of fiscal 2025 (9MFY25), V-Mart’s brand Unlimited's EBITDA margin doubled to 14.4  per cent, while the losses of the company’s other brand, Limeroad's continued to decline, leading to the group’s overall EBITDA margin rising from 11.1 per cent to 13.5 per cent.

This positive trend continued into Q4, with annual revenue rising by 17 per cent Y-o-Y to Rs 32.54 billion. This growth was spearheaded by V-Mart and Unlimited, both achieving 18 per cent growth, driven by an 11 per cent same-store sales growth (SSSG) and a 12 per cent expansion in store numbers.

V-Mart's 2021 acquisition of Unlimited from Arvind Fashions aimed to expand its South Indian presence, acquiring 74 stores and related assets for Rs 1.5 billion. While making V-Mart a national player, it presented integration challenges. Unlimited, with a higher concentration of Tier-I stores compared to V-Mart, underwent rebranding and operational changes aligning with V-Mart's strategy. Some Unlimited stores were closed and replaced with higher-performing ones in smaller cities. Unlimited's average selling price (ASP) was reduced from over Rs 500 to Rs 430, still higher than V-Mart's Rs 340, but more comparable within apparel.

Despite limited net store additions and stagnant store space, Unlimited's focus on profitable growth yielded a 10 per cent SSSG in Q4 FY25, surpassing V-Mart's 7 per cent. Unlimited's sales per square foot grew by 12 per cent, matching the overall 13 per cent growth, positioning it as a future growth driver for V-Mart.

V-Mart's FY23 acquisition of Limeroad for its digital ambitions initially faced headwinds due to consistent EBITDA losses. However, management efforts to halve advertising expenses and integrate V-Mart sales through Limeroad have shown results. Limeroad's EBITDA loss decreased by half in Q3 FY25.

V-Mart, a value retailer with nearly 500 stores across 4 million sq ft., faced pandemic-related challenges and increased competition. Acquisitions and store expansions led to a significant increase in debt. However, the company has shifted focus to profitable growth, closing underperforming stores, improving efficiency, offering discounts, and expanding categories.

Reduced inventory holding periods and a recovery in rural demand are also contributing to improved performance. Store count and space grew by 7 per cent in the past year, with plans for 60-65 new stores in FY26. Foot traffic increased significantly, and SSSG remained strong at 10 per cent, led by growth in Tier-IV cities.

V-Mart EBITDA rises to 13.5% in 9MFY25

BSC plans retail expansion with more stores lined up in New Delhi

Bombay Shirt Company (BSC) plans to expand its retail presence in New Delhi by opening more stores in the city. The apparel brand, which already has four stores in the city, recently opened another  store at the Khan Market.

This new store features the brand's latest collections, including custom-made shirts, ready-to-wear shirts, custom blazers, dress pants, jeans, chinos, performance pants, and knitwear like joggers and hoodies. Besides, it also offers a personalized in-store shopping experience where customers can select fabric for tailor-made shirts and have them customized by on-site tailors.

Aditya Mehta, Co-founder, Bombay Shirt Company, states, the brand’s stores in the city have performed well over the years, encouraging the label to plan more stores here in the coming the coming months.

Founded in 2012 as India’s first online custom shirt brand, Bombay Shirt Company sells its products through its stores across India as well as its direct-to-consumer online store, which offers international shipping.

House of Rare launches debut store for Rare’Z by Rare Rabbit in Indore

A significant step in the brand’s national retail expansion strategy, the House of Rare has launched the debut store for its brand Rare’Z by Rare Rabbit in Indore

Located in the Phoenix Citadel Mall, the store spans 830 sq ft and caters to the increasing demand for premium men’s footwear and fashion in the area. With this launch, the brand aims to expand its presence in emerging urban markets throughout India. The company aims to deliver a more customized and experiential shopping model, specifically designed to meet the needs of today’s Indian consumers.

Pulkit Verma, Chief Business Officer – Digital, The House of Rare, shares, the launch of this store is a pivotal moment in the brand’s mission to offer Indian men a more personalized and experiential approach to footwear shopping. Through this store, the brand aims to connect with Indore’s fashion-conscious audience by blending convenience with premium craftsmanship and design.

The store showcases collections like the Inferno metallic series, the monotone suede Ragno range, and the varsity-inspired sporty line. It also features a carefully chosen assortment of streetwear apparel, aligning with the brand’s efforts to provide a comprehensive fashion experience.

The opening of this store at Phoenix Citadel Mall highlights The House of Rare’s strategic intent to expand beyond major metropolitan cities and cultivate stronger connections with regional consumers. As the retail landscape continues to evolve, this move demonstrates a focused investment in high-traffic locations with growing demand for curated fashion offerings.

House of Rare launches debut store for Rare’Z by Rare Rabbit in Indore

The Arvind Store to offer complimentary tailoring services across India

A complete lifestyle fashion destination, The Arvind Store has launched a new initiative titled,  ‘Made for You, Stitched for Free,’ to offer complimentary tailoring services across India.

EnsurING a seamless, personalized shopping experience, this initiative eliminates tailoring hassles while delivering a perfect fit.

The Arvind Store provides top-notch custom tailoring, ensuring impeccable craftsmanship and attention to detail. Available exclusively at The Arvind Store locations, free suit and sherwani tailoring makes premium tailoring more accessible than ever

Pranav Dave, Chief Business Officer – Knits & Retail, Arvind Ltd, says, the ‘Made for You, Stitched for Free’ initiative is designed to make custom tailoring more accessible while maintaining the highest standards of craftsmanship and quality.

Custom tailoring is increasingly seen as an extension of one’s personality and a way to celebrate personal achievements, making The Arvind Store’s latest free suit and sherwani tailoring offer a timely and relevant offering.

Alongside this campaign, The Arvind Store also launched a new linen collection featuring over 300 styles, including wrinkle-resistant and performance fabrics. The Store also offers the rband’s latest Primante and Ethnic collections, designed for refined craftsmanship and luxury.

Featuring natural fabrics that are soft, lightweight, and breathable, the Ethnic Collection offers exceptional comfort. Meanwhile, the Primante Collection showcases premium fabrics like Egyptian Giza Cotton, Superfine European Linens, and Australian Merino Wool. Crafted in

Arvind’s Italian Studio, this collection is ideal for both formal and business wardrobes.

With a focus on quality and innovation, The Arvind Store continues to redefine fashion retail.

The Arvind Store to offer complimentary tailoring services across India

Libas launches 4,000 sq ft store in Hyderabad

Marking a significant step in its South India expansion, 0Indian fast-fashion leader Libas has launched its latest flagship store in Sarath City Capital Mall, Hyderabad. This expansive 4,000-sq-ft store showcases Libas’s diverse collection, offering a premium shopping experience for modern Indian women.

Emphasizing on Hyderabad's importance in the brand’s Southern India strategy, Sidhant Keshwani, Founder & CEO, Libas notes, this is their first store in the city with plans for further expansion. He credited the brand's success to its ‘fast fashion’ USP, emphasizing their ability to quickly bring the latest trends to their stores, rather than focusing on niche markets.

Libas has also seen strong performance in the e-commerce sector. The post-Diwali dip was followed by a significant rebound in March, avers Keshwani.  The brand aims to increase its current 25-26 stores to over 80-100 by the end of the fiscal year, with revenue growth targeted at Rs 6.5 to 7 billion.

To fuel this expansion, Libas secured its first round of funding last year. Hyderabad is a key focus, with plans to add 5-6 more stores in the city within the next year. The brand operates with a pan-India supplier network, in-house design in Delhi, and outsourced manufacturing.

Founded by Keshwani and his father, Libas has evolved from Keshwani’s e-commerce aspirations and the family’s clothing export business. As a new-age brand, Libas heavily relies on digital marketing strategies, including influencer and moment marketing, and community building, shunning traditional methods like billboards and TV.

Expressing strong confidence in the continued growth of e-commerce, Keshwani states, Libas intends to capitalize on this trend as part of its ambitious expansion strategy.

Libas launches 4,000 sq ft store in Hyderabad

FitFlop opens third India EBO in Mumbai

Ergonomically designed footwear brand FitFlop has opened its third EBO in India in partnership with Metro Brands. Located in the Sky City Mall in Borivali, Mumbai, this new store follows the launch of the brand’s second store in the country at Lulu Mall, Kochi.

Spanning 524 sq ft, the store aims to serve the growing local community by providing a space focused on customer comfort, accessibility, and service. David Schuttenkopf, Chief Commercial Officer, FitFlop, says, with 12 freestanding concept stores now operating across the country and four more planned for this year, the momentum is truly exciting. The brand’s shared vision with

Metro Brands continues to bring it closer to consumers across India, he adds.

Both of FitFlop's stores in Mumbai and Kochi offer the brand’s complete product line for both men and women. The UK-based brand is known for blending biomechanical engineering with stylish footwear designs.

The brand’s Mumbai store brings its latest global design concept to life and introduces an all-new collection that’s high on style and powered by comfort-engineered products, notes Nissan Joseph, CEO, Metro Brands.

FitFlop opens third India EBO in Mumbai

Crimzon launches new store to offer customized footwear in New Delhi

Expanding its retail presence, footwear brand Crimzon has launched a new store in New Delhi.

Located at the Defence Colony, the new store offers a wide range of footwear for all occasions.

It also offers customization services that allow customers to modify the heel heights of their footwear, adjust its straps, and also choose colors complementing their wardrobes.

Having embarked on a rapid expansion in the national as well as international markets, Crimzon plans to establish more stores across the nation in the next few months. It also plans to foray into luxury footwear market with the launch of a new men’s footwear range.

Sonali Dalwani, Founder, Crimzon, says, to ensure its each of its pair of footwear offers comfort as well as attractiveness, the brand blends tradition with innovation. It focuses on quality, craftsmanship and individuality in everything from customized designs to ultra-lightweight technology. Sustainability and personalized luxury offerings remain at the core of the brand’s operations.

Crimzon retails through its exclusive stores, website, online marketplaces, and multi-brand luxury boutiques across India.                             

Crimzon launches new store to offer customized footwear in New Delhi

Forever New captures the season’s spirit with Spring/Summer 2025 collection featuring Triptii Dimri

Women's fashion brand Forever New has launched its Spring/Summer 2025 collection, titled ‘The Summer Odyssey,’ with a campaign featuring its global brand ambassador, Triptii Dimri.

Showcasing lightweight materials, stylish matching sets (co-ords), flowing maxi dresses, and waistcoats, the collection captures the spirit of the season with its breezy silhouettes, vibrant colors, and dreamy patterns.

Dhruv Bogra, Country Director, Forever New India, states, the collection reflects Forever New's leadership in fashion and style within the women’s apparel market. With the launch of this collection, the brand continues to meet consumer demand for fresh and innovative designs by creating high-quality pieces that enhance the modern woman's wardrobe.”

Dimri adds, this collection feels like an extension of my own wardrobe—feminine, graceful, and effortlessly chic. Priced between Rs 4,500-Rs 12, 000, the Summer Odyssey collection is now available on the Forever New website and in their retail stores across India.

Forever New captures the season’s spirit with Spring/Summer 2025 collection featuring Triptii Dimri

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