Over two dozen international brands are expected to enter India with their stores this year, the most in a decade, encouraged by a post-Covid consumption surge. According to experts, this is an increase from one global brand in 2020, three in 2021, and eleven in 2022.
About 12-15 brands used to enter India annually prior to the pandemic. Roberto Cavalli, a British luxury goods company, Dunhill, and Foot Locker, an American sportswear and footwear shop, are all in discussions to expand into India.
Additionally, this year is likely to see the entry into India of chains like Lavazza and Armani Caffe from Italy, Jamba from the US, and The Coffee Club from Australia.
Over the past few months, more than a dozen international brands, including Valentino, McLaren, and Balenciaga, have debuted in India to capitalise on the rise in demand for luxury brands following the Covid lockdowns.
Tim Hortons, Popeyes, Pret A Manger, Pottery Barn, and more have also entered India. According to CBRE, retail leasing is expected to touch 5.5-6 million square feet in 2023, the highest after the 2019 peak of 6.8 million square feet.
Aditya Birla Fashion and Retail Ltd (ABFRL) and Galeries Lafayette recently partnered to launch upscale department stores and a specific e-commerce platform in India.
Reliance Retail plans to bring Shein, a major player in Chinese fashion, back to India through a partnership. Further, H&M has launched its home line within some of its flagship stores across India.
Global brands are eager to participate in India’s growth as the fifth-largest retail market in the world. Urban Indian consumers have increasing purchasing power, and branded goods in sectors including apparel, cosmetics, footwear, watches, beverages, food, and even jewellery are steadily growing in popularity for usage in both work and leisure.
