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The new service will cater to brands across multiple categories including lifestyle and fashion. CBRE will assist brands by providing strategic inputs on the Indian market and helping them with implementation of their expansion plans within the country. The service is in addition to the already existing retail advisory and transaction services currently being offered to the clients.
Retailers, especially from US and Europe, have been showing increasing interest in the India market, due to the growing opportunities in this sector. This is highlighted by the fact that over 40 major international brands have entered the country over the last two years, said the company in a press release.
"India's retail market is robust and this growth has not only been witnessed in the major metropolitan cities, but is also spreading across numerous tier II and III locations, providing enhanced business opportunities for retailers. To cater to this segment, we have formed a dedicated retail advisory team of experienced professionals to pioneer this specialist service in the country," said Anshuman Magazine, chairman, India and South East Asia, CBRE.
"While the drivers behind a retail business decision may be somewhat predictable, the physical and psychological forces that create the ideal environment for each brand vary significantly. Understanding these variations, no matter how subtle, is an important component of CBRE's value proposition," added Magazine.
"There have been an increasing number of prominent global brands moving into India and we are likely to see a spur in activity in this sector," said Rami Kaushal, managing director, consulting & valuation, CBRE South Asia Ltd.
"Apart from the traditional sector specific market studies, which analyses the competitive environment, assess market gaps and estimate the market potential, CBRE will also assist clients in execution of their business strategies, which includes 'Go to Market' strategy, partner selection process, and location identification," added Kaushal.
India's retail market is expected to grow to $1.1 trillion by 2020, driven by income growth, urbanisation and attitudinal shifts. The organised retail sector, which is estimated to reach approximately 18-20 per cent of the total sector, by 2020, is growing at a high rate of 20-25 per cent per annum. Accordingly, CBRE sees a potential of targeting an organised market of $70-80 billion currently, which comprises of organised Indian and international retailers who are operating in India or are evaluating entering India. (KD)
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