Real estate major DLF will significantly extend premium retail space in the capital, having acquired land to develop two premium malls.
“After completion of Emporio mall, which will only house luxury brands, the development of premium malls will begin. Both malls are named DLF Place,” a company official told Indiaretailing.
The official informed that one of the planned malls will be adjacent to the Emporio that is coming up in Vasant Kunj in Delhi, while the other will be at Saket, Delhi. The group has already acquired the properties and the construction is going to start shortly.
This endeavour by DLF is in sync with its plans to operate in all verticals of retail, from lifestyle to premium and luxury segments.
The malls will house exclusive and multi-brand outlets from major premium brands. “We are in talks with several premium brands, but nothing has been finalised as yet,” the official added.
The company is also talking to premium foreign brands that have not yet entered the country. Although the official did not confirm any name, he divulged that most of these brands will open their first shop at one or both of the upcoming projects.
Besides, DLF’s efforts to rope in foreign luxury brands for Emporio mall are also on.
“We are looking to get in new foreign brands and are currently in discussions with them to open outlets in our mall,” Vikas Kohli, chief executive officer, DLF, confirmed to Indiaretailing.
However, a company official, on condition of anonymity, confirmed that the group is talking to premium brands like Armani, Christian Dior, Dolce & Gabbana, Escada, Cartier and Versace.
In December, Indiaretailing had reported about talks between DLF and Sports Station India Private Limited (SSIPL), pondering the possibility of DLF acquiring SSIPL’s entire portfolio of super-luxury brands.
– Satrajit Sen
