Foreign consumer brands make a beeline for India

From luxury fashion houses to fast-food chains and tech giants, international brands continue to make significant inroads into the domestic market. In fact, the pace of entry of such retail brands in the country increased in the current calendar year, affirming its status as a dynamic market and growing economic prowess.

According to data shared by real estate consultancy JLL India exclusively with FE, as many as 24 global retail brands entered the country in 2024. This is much higher than 14 in 2023 and 11 in 2022. In 2021, 8 global retail brands entered the domestic market.

“Since 2021, India has witnessed the entry of 57 global brands across multiple categories,” said Samantak Das, chief economist and head of research & REIS, India, JLL.

British menswear brand Charles Tyrwhitt opened its first store in Ahmedabad in February this year. Similarly, Lifestyle apparel brand Dockers opened its first store in Delhi-NCR’s Pacific Mall in the same month.

In September, fashion label Armani opened its restaurant Armani/Caffè in Mumbai. In October, American shoemaker Foot Locker opened its first India store in the Capital city.

According to analysts, India’s aspirational population and their increasing exposure to other countries have led to a high demand for these brands, making the country an attractive destination for them to set shop.

“With a young, aspirational population and a burgeoning middle class, the nation offers immense consumer potential,” said Naveen Malpani, partner and consumer industry leader at Grant Thornton Bharat.

“Rising disposable incomes and a shift toward premium products and global experiences make India a lucrative market for international players,” he added.

According to Satish Meena, analyst at Datum Intelligence, Indian consumers are travelling more and getting exposure to new brands.

“Gen Z customers are looking beyond the traditional brands and willing to change brands at a much faster rate,” he said.

JLL’s data also show that out of 57 brands which have entered since 2021, 51% have opened their first store in Delhi-NCR. Another 32% have entered Mumbai first. So, over four out of every five brands have preferred these two cities alone.

Das said this was due to the presence of Grade A quality malls in these cities which provide an ideal backdrop for premium global brands “to showcase their offerings and create immersive retail experiences”.

“Recent years have witnessed the introduction of premium malls, which have strategically increased space allocation for premium, bridge-to-luxury and global brands,” added Rahul Arora, head – office leasing & retail services, and senior managing director – Karnataka, Kerala, India, JLL.

Moreover, of all the brands, the highest 26% were from beauty, cosmetics & wellness category. It was followed by 21% from footwear, bags & accessories and 19% from fashion & apparel category.

In 2025, retail experts expect the trend of entry of foreign brands to remain strong. Several brands have already announced their India entry but are yet to open their first stores. These include Canada’s Lululemon Athletica, French luxury fragrance brand Eternal Journey, American quick service restaurant Jamba and Bershka by Zara’s parent Inditex.  

“The momentum for global brand entries into India is set to remain strong,” said Malpani. According to Meena, this trend is expected to continue for next couple of years.