DLF TO LAUNCH LUXURY PROPERTY, THE CHANAKYA IN DELHI

Two years ago DLF had set a new trend with a new fundraising avenue in the corporate bond sector, it had successfully placed the country’s first Commercial Mortgage Backed Security (CMBS) issue in the stock market. The issue of Rs 525 crore was aimed towards fostering its luxury mall DLF Promenade in New Delhi.

Yesterday, the retail luxury real estate major, planned to set in motion another luxury property, The Chanakya, in Lutyens Delhi and rope in international names such as Juicy Couture, Longchamp, G Star Raw, Hunkemoller, La Perla and Chanel Beauty to its Promenade and Emporio malls.

The exclusivity of DLF Emporio lies in housing the exclusive stores of La Perla, Bvlgari, Tumi and Longchamp in India. Speaking on the development, Senior Vice President of DLF Retail, Dinaz Madhukar said, “It’s a very exciting time for retail and we are excited that new brands looking to enter the country are doing it with us”. DLF Promenade has registered a very promising sales increase of 8%-9% while its footfalls have increased 11%-13% and this could continue growing with the launch of major international new brands like G Star Raw, DC Shoes and BCBGeneration.

The Chanakya at Lutyens Delhi, is aimed at housing an amalgamation of luxury companies such as ­– Tom Ford Women, Hermes and Valentino and serve as a path to brands that spell luxury such as — Karen Millen, Reiss and Kate Spade.

Though the past year 25% of the inventory in Promenade had undergone a churn due to relocation and reworking of its store formats, Dinaz was optimistic that categories like apparel, beauty and food will continue to increase their retail sales. She also reiterated that DLF will see to it that brands such as BVR Luxuries, Desi Pop and Show Shaa flourish in pop-up stores using temporary platforms.

Source : https://www.thedollarbusiness.com/dlf-to-launch-luxury-property-the-chanakya-in-delhi/