In January-September last year, more than 30 major retail brands entered 14 tier II cities.
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New Delhi. More than 30 leading retail brands have opened their shops in 14 tier II cities during January-September last year. Property consultancy CBRE in its report ‘Tier-2 Cities: The Time of Shine’ released on Tuesday said that Croma, Armani Exchange, Malabar Gold & Diamonds, Reliance Smart, Tanishq, H&M, Marks & Spencer, GAP, Starbucks Many domestic and international retail brands, including , Pizza Express and Under Armour, have increased their retail presence in second-tier cities.
These second category cities are Chandigarh, Jaipur, Indore, Goa, Mangalore, Kochi, Lucknow, Patna, Ranchi, Guwahati, Bhubaneswar, Vizag, Mysuru and Coimbatore. According to the report, the total retail real estate space in these 14 tier-2 cities by September 2023 was 29 million square feet. Jaipur, Lucknow and Chandigarh have retail real estate area ranging from 30 to 70 lakh square feet.
Anshuman Magazine, chairman of CBRE India, South-East Asia, West-Asia and Africa, said the surge in the e-commerce segment, tech-savvy consumer base, rising aspirations and increased discretionary purchasing are driving the growth of the retail segment in tier-II cities. is defining.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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