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09-April-2014

 

Kolkata is emerging as a new destination for luxury labels. Quest Mall, for instance, is planning to host luxury brands like Canali, Paul Smith, Michael Kors, Rolex, Tag Heuer or Breitling. While brands like FCUK, Tommy Hilfiger, Vero Moda, Nautica, Guess, Forever New and Calvin Klein have already opened their stores in the city. 

Till recently, hardly any luxury brands were available in Kolkata, except a few watch labels. There were 'trunk shows' in which a brand like Jimmy Choo would come to a five-star hotel for two-three days and showcase to only special invitees. But of late, the city is witnessing a change in its retail landscape with e-commerce sites like Jabong witnessing a rise in shoppers from the city.

Kolkata is fast emerging as the new hotspot for retail, indicates a Cushman & Wakefield survey, which pegs mall space occupancy in the city in the third quarter at 95 per cent. The eastern city, which till some years ago had only one mall, the Forum Mall in central Kolkata, now has a string of them — the Mani Square Mall, Avani Mall and the newly inaugurated Quest Mall, to name a few. In its 'Retail Q3 Report', the real estate consultancy said that mall space in the city could go up by another 440,000 square feet in the coming months.

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