Steep rentals, lack of quality retail real estate making it tough for luxury brands to expand business in India

MUMBAI/DELHI: Niche luxury brands like Italian suit maker Kiton and British shoemaker John Lobb have started bespoke made-to-order services in India, but they are in no hurry to open swanky stores in the country. Reason: inability to find a place on the right location at reasonable rates. “Rentals in India are as high as international markets, but the demand is not as much,” said Pratik Dalmia, founder of Mumbai-based Regalia Luxury, which has the rights to market and sell Kiton and John Lobb brands in India. Steep rentals and lack of quality retail real estate at strategic locations near high-income neighbourhoods are making it hard for luxury brands to expand […][#full_content_wordai]