Gurugram, 16^th April 2025 – India’s retail real estate sector is undergoing a structural transformation, driven by a new wave of premiumisation. With rising consumer aspirations, increased discretionary spending, and a significant shift in brand and developer strategies, the country is witnessing the emergence of a more sophisticated, experience-driven retail ecosystem.

According to Cushman & Wakefield’s latest research report, “Premiumisation of India’s Retail Sector – Upscaling, Upgrading and Evolving”, launched at MAPIC India Shopping Centre Summit & Awards 2025, over 70% of the 12.3 million sq. ft. (msf) of new Grade A mall supply expected over the next two years will be Superior Grade (Grade A+). This marks a significant upgrade in quality and experience across India’s upcoming retail infrastructure.

Of the 12.3 million sq. ft. of new Grade A mall supply projected across 2025 and 2026, 8.6 million sq. ft. will be Superior Grade—underscoring the sector’s shift from scale to quality. The superior-grade malls typically owned and operated by reputed developers or institutional investors are characterized by their high occupancy rates (more than 85%), upscale tenant mix, and service-rich environments.

India’s total Grade A mall stock stood at 61.5 million sq. ft. in 2024, with Superior Grade malls already comprising 63% (38.9 million sq. ft.) of the total. These malls are outperforming their peers, with stock-weighted average rents rising by 29% since 2019, currently averaging INR 315 per sq. ft. per month.

Metro cities like Delhi NCR, Mumbai, Bengaluru and Pune lead the Grade-A mall stock, with Delhi NCR alone accounting for 21.75 MSF. Superior grade assets within these metros are witnessing strong investor and retailer interest, driving rental growth and low vacancy rates of around 3-4%.

Evolving Lifestyles Fuel Demand for Premium Retail Spaces

The report attributes this shift to the rise of India’s affluent and aspirational middle class. With the country’s median age under 30, younger consumers are embracing lifestyle upgrades and experiential consumption. As digital-first premium brands transition to offline formats, they are increasingly choosing Grade-A malls or prominent high streets to establish physical footprints. This premiumisation has also impacted the mall leasing landscape as value brands are gradually losing share in superior malls, while lifestyle, premium, and luxury categories are gaining prominence.

Changing Retail Mix: Beauty, Athleisure and F&B Take Centre Stage

Premiumisation is also reshaping the brand mix and category spread within malls. The share of traditional anchors such as hypermarkets and cinemas is declining, while fashion, beauty, wellness, and experiential dining are emerging as key drivers of footfall and spend. Beauty & wellness, food & beverage (F&B), and athleisure have seen significant growth in mall footprints, driven by high trading densities and increased consumer engagement. The beauty and wellness segment has caught up well with premiumisation trend, having attracted immense patronage from consumers in the last 5-6 years. Today, it commands an average trading density in the range of INR 8,000 to 12,000 per month, making it a discerning segment for most mall managers. F&B, in particular, has evolved into the new anchor category, often driving footfall more effectively than traditional departmental stores. The report also notes a modest yet promising rise in jewellery and Consumer Durables Information Technology (CDIT) categories, reflecting India’s expanding appetite for premium experiences. Meanwhile, traditional anchors like hypermarkets and cinemas are witnessing reduced footprints as their value proposition evolves.

Retail Giants Reshape Strategies to Stay Ahead of the Curve

The report also outlines how large, listed retailers such as Aditya Birla Fashion, Reliance Retail, Shoppers Stop, and Tata Trent are adapting to this wave of premiumisation. Initiatives include the launch of premium private labels, omnichannel retailing strategies, digital-first store formats, and targeted expansion into Tier-II and Tier-III cities where rising incomes are fuelling lifestyle upgrades.

As the premiumisation trend matures, the role of mall management is expected to evolve significantly. Future-ready malls will not only focus on tenant curation but also integrate digital infrastructure, community engagement, sustainability, and design flexibility to stay relevant. The report underscores the need for developers and brands to align their strategies to tap into India’s evolving consumer landscape.

Premiumisation Across High Streets

Owing to limited space availability in superior grade malls, many brands choose to locate their stores in prominent highstreets across the top 8 cities over the last few years. Prominent highstreets include locations such as the Linking Road in Mumbai, Khan Market and Connaught Place in Delhi, M.G. Road in Bengaluru among others. Though these are considered unorganized supply in many ways, the prominent highstreets offer brands the benefit of direct visibility to passing shoppers. Over the years, prominent highstreets have seen their rentals surpass pre-COVID peak of 2019 and have been moving upwards gradually ever since, acting as testimony to the high demand for such spaces from premium retail brands.

Saurabh Shatdal, Executive Managing Director, Capital Markets & Head, Retail India, Cushman & Wakefield, said at the launch, “India’s retail landscape is evolving rapidly, and so are consumer aspirations. The rise of Superior Grade malls reflects a clear pivot from just scale to quality and experience. Today’s consumers are seeking curated, design-led environments where the brand experience is as important as the product itself. Categories like beauty, wellness, F&B, and athleisure—known for high engagement and trading density—are shaping this next phase of retail. The response from developers and brands shows a deep shift in strategy: toward sophisticated, digitally integrated, and future-ready retail formats that truly resonate with the country’s aspirational consumers.”

Moscow, 15th April 2025– On April 13, an official ceremony was held at the premises of FSUE Atomflot (a Rosatom enterprise) to celebrate the arrival of the third serial universal nuclear-powered icebreaker, Yakutia, to its home port of Murmansk. The night before, the ship moored at the Atomflot base. Her voyage from St. Petersburg took six days.

“The Yakutia universal nuclear-powered icebreaker is ready to operate in the waters of the Northern Sea Route,” said Yakov Antonov, Acting Director General of FSUE Atomflot. “We plan to launch the ship on her first regular voyage on April 15. The icebreaker crew will work in the Yenisei region of the Kara Sea. The period of ice growth is now coming to an end in the water area of the Northern Sea Route. The Yakutia nuclear-powered icebreaker will have an excellent opportunity to demonstrate all its main technical advantages: power, maneuverability and dual-draft functionality.”

During the voyage from St. Petersburg to her home port Murmansk, the Yakutia universal nuclear-powered icebreaker passed through the Baltic, North, Norwegian and Barents Seas. The vessel traveled 2,470 nautical miles at an average speed of 16 knots.

“This is my first regular voyage as a captain,” said Dmitry Nikitin, Captain of the Yakutia SUNPI. “Of course, we are a bit nervous about how the icebreaker will perform in the ice. There comes an important stage in the ship operation. But I have confidence in my crew. The mechanics know their business excellently and the navigators have successful experience of working in open sea ice and in estuaries. We are a team, which means we will nail it.”

Once the vessel is prepared for the voyage and all the supplies are furnished, the Yakutia serial universal nuclear-powered icebreaker will set a course in the direction of the Yenisei region of the Kara Sea.

Mumbai: Volkswagen India  launched the all-new Tiguan R-Line, the brand’s flagship SUV for the Indian market. A global best-seller from Volkswagen, the launch of the highly anticipated R–Line of the third generation Tiguan underscores the commitment of Volkswagen to Indian customers. Built on the MQB EVO platform, the all-new Tiguan R-Line boasts of a new chassis generation that delivers unparalleled driving dynamics and ride experience.

Speaking at the launch of the all-new Tiguan R-Line, Mr. Ashish Gupta, Brand Director, Volkswagen India, said, “With the launch of the all-new Tiguan R-Line today, we are entering an exciting phase for Volkswagen in India, a phase that embodies the future of premium mobility from Volkswagen. This iconic SUVW along with being bold and dynamic is also modern, fully equipped and highly capable to handle all terrains. Developed with German–engineered DNA, 5-star safety and fun-to-drive dynamics, the all-new Tiguan R-Line is here to thrill.”

Customers can access the Beyond betteR; Tiguan R-Line at a special introductory price of INR 48.99 lakhs, with deliveries starting from 23rd April, 2025 onwards, across the Volkswagen dealership network in India.

Expressive Beyond Design

The all-new Tiguan R-Line offers a new design language that perfectly blends form and function. The front of the SUVW features a bold and powerful look with LED Plus headlights and a glass-covered horizontal strip. The all-new Tiguan R-Line also features ‘R’ inspired 19-inch “Coventry” alloy wheels with diamond-turned surfaces. A new horizontal LED strip builds emphasis on the distinct rear design along with the rear combination lamps. The SUVW’s interiors are adorned with ‘R’ inserts on front sport comfort seats, while also featuring an illuminated ‘R’ logo on the dashboard. The all-new Tiguan R-Line is equipped with Ambient lighting (30 colours), panoramic sunroof, illuminated door handle recesses, pedals in brushed stainless steel and surround lighting with welcome light.

Built Beyond Comfort

The all-new Tiguan R-Line delivers opulent experiences with every drive. Equipped with segment leading features such as “Ergo active’’ seats with massage function and adjustable lumbar support, the all-new Tiguan R-Line offers personalized comfort. Features like Air-Care Climatronic (3-zone air-conditioning), Park Assist Plus with Park Distance Control and Inductive Charging for 2 Smart Phones, add to comfort and convenience beyond the ordinary.

Progressive Beyond Performance

Equipped with 2.0-litre TSI EVO engine, the Tiguan R-Line offers 204 PS of peak power and 320 Nm of torque. The engine has been mated to a 7-speed DSG transmission with 4Motion all-wheel drive capability. The Tiguan R-Line comes with DCC (Dynamic Chassis Control) Pro, and a Vehicle Dynamics Manager (XDS). The Vehicle Dynamics manager implements wheel-specific braking interventions and wheel-selective adjustments of the shock absorber damping, in-turn, offering a more neutral, stable, agile and precise cabin comfort.

Safety Beyond Features

Beyond safety, the all-new Tiguan R-Line is packed with advanced technology for a reassuring driving experience with 21 Level 2 ADAS (Advanced Driving Assistance System) features delivering highest levels of safety to customers. The all-new Tiguan R-Line not only offers driving confidence but an assurance of class-leading safety; with segment leading 9-airbags, Tire Pressure Monitoring System, Hill Start Assist and Hill Descent Control, Front & Rear Disc Brakes and much more. Additionally, the all-new Tiguan R-Line has received a 5-Star EURO NCAP safety rating, making it one of the safest SUVs on Indian roads.

Innovative Beyond Technology

The all-new Tiguan R-Line with its 26.04 cm customizable digital Cockpit is equipped with options to set different information profiles. The all-new Tiguan R-Line comes with a class leading 38.1 cm infotainment system that delivers enhanced convenience and ease of operation with its newly designed menu structure and graphics. Providing a seamless driving experience, the new head-up display and the multi-function driving experience dial with an integrated TFT LCD display, redefine the SUVW’s in-cabin experiences. The immersive sound system with eight speakers makes every journey an experience to savour.

Advanced Beyond Convenience

Further enhancing convenience, the Tiguan R-Line is equipped with Wireless App-Connect for Apple CarPlay and Android Auto as well as wireless charging. Seamless integration of navigation information from the infotainment to the digital cockpit ensures distraction less focus on the road ahead. Powered by IDA voice assistant and voice enhancer, the all-new Tiguan R-Line offers control over various infotainment functions using natural language.

Service Beyond Ownership

The all-new Tiguan R-Line comes with the 4EVER Care program as standard, ensuring a hassle-free ownership experience through four-year standard warranty, four-year Roadside assistance and three free services.

Colours

The all-new Tiguan R-Line will be available in 6 exclusive colours: Persimmon Red Metallic, Cipressino Green Metallic, Nightshade Blue Metallic, Grenadilla Black Metallic, Oryx White Pearl & Oyster Silver Metallic.

Mumbai, April 15th – Space Matrix, a leading multinational workplace design and build consultancy, has created a high-performance, future-ready office for IMC India Securities Pvt. Ltd. (IMC). Since launching its operations in India in 2021, IMC’s expansion required a workspace that facilitates innovation, collaboration, and knowledge exchange.

Space Matrix has seamlessly integrated intelligent spatial planning with experience-driven design, setting new benchmarks in both functionality and aesthetics. The new IMC office ensures that employees feel connected to one another, the company, and its ambition, empowering colleagues to work with energy and purpose every day.

“IMC’s new office is a true reflection of its culture—where collaboration and innovation are at the forefront,” said Meghna Vajani, Managing Director – India, Space Matrix. “Through the integration of flexible design and cutting-edge technology, we’ve created a space that supports efficiency while nurturing creativity. This environment enables employees to thrive—empowering them to work with purpose, satisfaction, and energy.”

Reflecting on the project, Jocelyn Dentand, Managing Director, IMC India Securities Pvt. Ltd., shared, “The India office was growing faster than anticipated and we needed a bigger space to support our expansion plans. Space Matrix has brought our vision to life, with a workspace that embodies our values, energises our teams, and transforms the way we collaborate daily.”

Designed with flexibility in mind, the office offers a variety of areas to accommodate different work styles. Dedicated quiet rooms support focused work, while open, inviting spaces encourage collaboration and idea-sharing. At the heart of the office is a spacious cafeteria, positioned to take advantage of the building’s best views, offering employees a space to relax, socialise, and recharge.

With a strong emphasis on employee experience and well-being, the design integrates biophilic elements such as strategically placed greenery and natural materials. These elements improve air quality, reduce stress, and promote overall wellness, enhancing both productivity and a balanced work atmosphere.

Breakout areas balance functionality with comfort, fostering impromptu meetings and brainstorming sessions. Modular furniture provides flexibility to adapt spaces to the company’s evolving needs. Design features such as the History Wall and Charity Wall celebrate the company’s journey and community contributions, instilling a sense of pride and a deeper connection to the organisation’s culture.

The space also incorporates advanced technology. Digital displays in common areas showcase company milestones and provide an interactive platform for employees to stay engaged. Smart lighting systems create optimal environments for productivity and relaxation, while acoustic panels ensure sound privacy and reduce distractions in open spaces.

Through this office, Space Matrix continues to focus on designing workplaces that are not only functional but also human-centric, solving business challenges and facilitating growth.

Hyderabad, April 15th, 2025: Ridhira Group, a pioneering leader in wellness-focused real estate, is pleased to announce the appointment of Mr. Vivek Chaturvedi as Senior Vice President, Sales & Marketing. In his new role, Vivek will be responsible for steering the company’s growth, devising strategic marketing initiatives, fostering strong relationships with key stakeholders, and leading sales efforts to further enhance Ridhira’s market presence. His appointment represents a significant milestone in Ridhira’s ongoing evolution as a leader in wellness-oriented and sustainable real estate.

With over 17 years of experience across diverse sectors including Real Estate, FMCG, Ed-Tech, and Energy in India and the Middle East, Vivek brings a deep understanding of growths, transformation, and market dynamics. Holding an MBA from XLRI Jamshedpur, his leadership has been key in scaling businesses and creating impactful marketing strategies for global brands such as HoABL, Lodha Ventures, Agthia, Monster Energy, Colgate-Palmolive, Kellogg’s, and Exide. Known for his pragmatic approach and focus on customer-centric innovation, Vivek has a proven track record of driving high-performing teams and delivering results.

Mr. Ritesh Mastipuram, Founder & Managing Director, Ridhira Group said: “At Ridhira, we view real estate as a powerful catalyst for community transformation. It’s about crafting spaces that go beyond buildings—creating environments where people live, thrive, and realize their aspirations. Vivek’s leadership aligns seamlessly with this vision. His expertise in scaling businesses and understanding the pulse of the customer will be critical as we strengthen our market position and drive meaningful growth. We are confident that his leadership will help elevate Ridhira to new heights as we continue to redefine the future of real estate.”

In his new role, Vivek will lead Ridhira’s sales and marketing strategies, focusing on expanding the company’s reach, driving innovative sales practices, and enhancing the overall customer experience.

Speaking about his appointment, Vivek Chaturvedi shared his thoughts by saying, “I’m honored to join Ridhira, a company that stands at the intersection of innovation and impact. What excites me most is the opportunity to work with a team that’s deeply committed to not just building properties, but creating enduring legacies that will serve generations to come. Together, we will push boundaries, drive innovation, and build a future where every space we create is a reflection of our values—wellness, sustainability, and community. The journey ahead is full of potential, and I’m excited to be part of this next phase of Ridhira’s growth.”

This appointment marks the beginning of an exciting new chapter for Ridhira Group. With a solid foundation of delivering luxury residences and sustainable commercial spaces, the company continues to set the standard for excellence, transparency, and innovation. Under Vivek’s leadership, Ridhira is poised to accelerate its growth, explore new avenues for innovation, and continue its mission to create enduring legacies through exceptional real estate.