Now Reading: DLF segments malls into luxury ladder for rising spenders
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DLF segments malls into luxury ladder for rising spenders
DLF is carving its malls into distinct tiers, from neighbourhood plazas and city-centre destinations to aspirational luxury and ultra-luxury, to match younger consumers who start with accessible brands and climb higher. Pushpa…
The Story in Brief
DLF is carving its malls into distinct tiers, from neighbourhood plazas and city-centre destinations to aspirational luxury and ultra-luxury, to match younger consumers who start with accessible brands and climb higher. Pushpa Bector, group executive director, said India's millennial and Gen Z buyers may follow the trajectory seen in Singapore and China, saving up first for Coach or Michael Kors before moving to LVMH, Chanel and Dior.
The developer's retail spending rose 12% year-on-year in the June quarter, and rentals grew about 9%. DLF plans to double its 5-million-sq-ft retail portfolio by 2030, with three new projects opening this year, including a 700,000-sq-ft mall in Goa by early 2027. Lease renewals allow the company to raise rents by 22-30% while keeping occupancy at 97%.
The Indian Opinion
The luxury-ladder narrative risks overlooking that India's ultra-rich remain a sliver of the population. Developers are betting on a young cohort rising to designer brands, but the data on disposable income growth for the middle class is mixed. The test will be whether DLF's new Goa mall and its expanded portfolio maintain the 97% occupancy it now enjoys, or whether aspirational spending falters as rents climb 22-30% on renewals.
Source: livemint.com
This story was synthesised by AI from the source linked above.
