27 GLOBAL BRANDS STEP INTO INDIA'S LIFESTYLE & FOOTWEAR MARKET IN 2024

In 2024, India's retail landscape experienced a significant transformation with the entry of 27 international brands in the lifestyle and footwear sectors.

- Report by Amit Chopra & Vikas Bagga, Business Strategy Consultant & Mentor for Start-Ups

This influx underscores India's growing appeal as a lucrative market for global retailers, driven by a burgeoning Upper middle class middle class, increased urbanization, and a rising appetite for premium products.

A Surge in Global Entrants

According to industry reports, 56% of these new entrants originated from the EMEA (Europe, the Middle East, and Africa) region, highlighting the strategic importance of India in global expansion plans. Delhi-NCR emerged as the preferred location for over half of these brands to establish their inaugural stores, followed by Mumbai. The luxury retail sector maintained strong momentum, with high-end brands leasing approximately 190,000 square feet of space in 2024.

NOTABLE BRAND ENTRANTS

Footwear and Accessories:

Foot Locker: The New York-based athletic footwear and apparel retailer made its omnichannel debut in India in October through a partnership with Metro Brands Ltd. The first store opened at Select City Walk in New Delhi, complemented by an online presence via Nykaa Fashion

HeyDude: This American footwear brand entered India in collaboration with Metro Brands Ltd., making its products available in 25 select Metro and Mochi stores across the country.

Gaston Luga: The Swedish lifestyle brand ventured into the Indian market in February, partnering with Maison ID8 Brands. Its products are accessible on e-commerce platforms such as Ajio Luxe, Tata Cliq Luxury, and The White Crow.