Global retailers, as well as food brands, are making a beeline for India after a gap of two years. More than a dozen international brands, including Pret A Manger, Tim Hortons and Popeyes, have rushed in over the last few months, optimistic about their prospects in the country after the Covid-19-induced lull in luxury consumption.
Many are opting for large-format stores outside the metros, realty developers and consultants said.
Demand from big names has surged across Nexus Malls' portfolio of 17 malls in 13 cities, according to its chief leasing officer Nirzar Jain. "Over the last six months or so, large-format international brands across Nexus Malls have ramped up store sizes by 20-30%, depending on the nature of their business," he said.
Fast fashion brand Uniqlo said recently it would open its first store in a tier II city, while others are also exploring similar forays.
"Brands like Uniqlo, Zara and H&M have been expanding in India after Covid-19 restrictions were lifted. Since the situation is still fluid with respect to the pandemic, we will probably see more aggressive plays from these and other brands," said Pankaj Renjhen, chief operating officer and joint managing director at property consultant Anarock Retail.
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