Global brands replacing Indian ones in malls across India

Malls in India are opting for international brands as these firms giving back higher rents and bring in a new set of customers. In this process, malls have been replacing domestic brands. International brands have been replacing Indian brands across India, says a report.

Oberoi Mall in Mumbai recently shrank the size of its erstwhile anchor tenant, Central, to accommodate Spanish retailer Zara. Swedish clothing retailer H&M replaced Big Bazaar and Pantaloon at the High Street Phoenix mall in Central Mumbai and DLF Saket in Delhi, respectively.

Future Group’s Central, the multi-brand seamless store that occupied 75,000 square feet at the Oberoi mall, has now reduced its size to 60,000 square feet to accommodate Zara on the ground floor, making the Spanish retailer another anchor tenant with over 30,000 square feet. Other domestic brands, such as ITC’s Wills Lifestyle, have been replaced by US speciality retailer Aeropostale, at the same mall.

The Aditya Birla Group-owned Pantaloon store at DLF Saket Mall in Delhi was also made to shrink its size from 30,000 square feet to 7,000 square feet to accommodate H&M for its first store in India. As far as malls are concerned, apart from higher yields, the global brands also bring in a new set of customers. Increased, footfalls to these stores is certainly what malls are looking for.