With nearly 1.5 billion people and an economy growing more than 6%, India is expanding faster than China, the luxury industry's growth engine for over a decade. India only has three true luxury malls: two in New Delhi - the Emporio and the Chanakya, owned by real estate developer DLF, and the Jio World Plaza in Mumbai, owned by the Reliance conglomerate. Some brands have no stores in IndiaThe shortage of high-end mall space has resulted in some notable gaps in India's luxury market. Several leading brands like Patek Philippe and Loro Piana, for example, have no physical stores in India. It's not uncommon for some brands to have 40-50 stores in China, Louis Vuitton and Gucci among them.

Source: The Telegraph March 27, 2026 13:57 UTC