After opening up Emporio mall at Vasant Kunj, Delhi targeting the ultra rich and luxury segment, DLF plans to build more malls in phases in Mumbai, Chennai, Hyderabad, Kolkata, Ludhiana, Chandigarh, Ahmedabad and Pune at a cost of around Rs.500 crore for each mall.
Emporio mall houses only luxury brands and most of the brands are through an equity arrangement with DLF while rest are franchise arrangements.
But the big question is whether there is enough buying capacity for such malls in India. The answer may quite be tricky since such market is unexplored and for affluent people in these metro cities, it may indeed become a surprise winner.
One thing quite noticeable in the list of locations for the new malls is that Bangalore is missing from the lot. The reason may be quite obvious as Bangalore already has UB City – The Collection, which is Vijay Mallya’s luxury mall brand. source