Luxury Malls – the Latest Trend of Shopping in India!

Shopping enthusiasts will experience a complete new experience
in India according to their fine taste of the good life. Thanks
to the luxury malls that have lined up to come up soon in the
country.

Some of the world class brands including Escada, Alfred Dun
Hill, Hermes, and 200 other global luxury brands are awaiting
their turns to cave a substantial niche in the Indian market.
However, prohibitive rentals and lack of retail space are the
reasons contributing to delays in the development plans. One of
the listed companies, the Gitanjali Group may bring solace for
all.

The company is known to have announced an initial investment
of a whopping Rs 100 crore toward luxury retailing. Indeed, Gitanjali
has established two separate entities, Luxury Connexions which
will facilitate the entry of global trends and Luxury Malls that
will offer exclusive retail space to domestic and global high
end, luxury brands.

Such malls would be the first of their kind luxury mall spread
over a large area of 45,000 sq feet in Hyderabad by the end of
2007, followed by the places like Delhi and Mumbai.

The listed company is looking forward to buy properties in both
cities. The company may acquire or lease the land, 70% of it will
be marketed to other brands, which will generate revenue.

Featuring the global luxury brands, the mall will bring all
the shopping freaks under one roof. These malls will also have
a digital theatre and premium convention centers.

Also, the retail market in India is growing at over 25% and is
likely to touch Rs. 5000 crore by 2010.