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Retail

High rentals squeezing luxury sector in India

Luxury brands in malls like Emporio and UB City want a cut in rentals. These include high end labels like Armani Jeans, Jimmy Choo, Canali and Giorgio Armani. Demonetisation has deeply hurt luxury retailers as their goods are sold primarily in cash. Sales in the luxury sector have halved since demonetisation. Luxury rentals in India are already...

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