Share of fashion-apparel in India's retail leasing 39% in H1 2024

31 Jul '24

2 min read

Share of fashion-apparel in India's retail leasing 39% in H1 2024

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Insights

India's retail leasing in H1 2024 rose by 7 per cent YoY to 3.1 million sq ft across eight cities—a five-year high—with the share of the fashion and apparel product segment remaining 39 per cent, CBRE South Asia Pvt Ltd said.
Around 0.5 million sq ft of retail space was added across tier-I cities 0.4 million sq ft was added across Tier-II cities in H1.

Retail leasing in India in the first half (H1) this year rose by 7 per cent year on year (YoY) to 3.1 million sq ft across eight cities—a five-year high—with the share of the fashion and apparel product segment remaining 39 per cent, CBRE South Asia Pvt. Ltd said in a new report.

The absorption was led by Bengaluru, followed by Chennai and Delhi National Capital Region.

In the next few quarters, the influx of investment-grade mall supply will influence primary leasing trends, while leading malls across key cities will continue to see strong demand for secondary spaces.

India also attracted global retailers like Charles Tyrwhitt, Maison Margiela and Franck Provost during the six-month period. Other major global retailers from Switzerland, the United States and Japan have also expanded their presence in India, the report noted.

"Leasing in strategic locations is expected to remain steady, with a healthy mix of primary and secondary leasing projected to continue at a consistent pace," it said.

Around 0.5 million sq ft of retail space was added across tier-I cities in H1 2024. Tier-II cities saw an overall space take-up of 0.4 million sq ft during the period, with the absorption dominated by Indore and Kochi, accounting for a joint share of 56 per cent, followed by Lucknow and Chandigarh, each with a 17 per cent share.

Fibre2Fashion News Desk (DS)

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