The country’s largest real estate firm DLF Ltd is constructing a super-luxury mall in

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New Delhi at an investment of about Rs 1,000 crore, which will feature nearly 40 high-end apparel and watch brands to cater to a rising number of fashion-conscious consumers with soaring disposable incomes.

Emporia, which is coming up in an up-market South Delhi location, will have brands such as Giorgio Armani, Gucci, Louis Vuitton, and Swatch, among others on its premises.

Not the one to be left behind, Reliance Retail is also planning to have an ensemble of about 100 foreign brands, which will be sold through its lifestyle stores Reliance Trendz. Moreover, the company is building a portfolio across other formats such as durables and footwear.

“We are looking at a portfolio of over 100 luxury brands,” a Reliance Retail spokesperson said. With an unprecedented rise in income levels in the country, top international brands are scouting for opportunities in the world’s second fastest growing consumer market.

The size of the retail market in the country is estimated at $280 billion.Whether it is apparel, accessories, jewellery or coffee, top-notch international brands are looking to pamper Indian consumers with a wide array of products.

According to a Crisil study, organised retail is believed to be at $14 billion, and at the current pace of growth of 25 per cent annually, it would more than double to $30 billion by 2010.

Giorgio Armani, for instance, is set to start retail operations in India in a joint venture with DLF. But, this is not the only super luxury brand that the realty giant is looking to bring to the country. It has already entered into a joint venture (JV) with another premium European brand Dolce & Gabbana.

“We are looking at luxury retailing as a serious business proposition,” said DLF vice-chairman Rajiv Singh. “We are constantly exploring business arrangements, such as franchising or JVs with some prominent international brands.” Leading global coffee chain, Starbucks, has been exploring opportunities in India since the past two years. It has held talks with some leading business houses in the country, including the Anil Dhirubhai Ambani Group and RPG.

Under the current dispensation, 51 per cent foreign direct investment is allowed in single brand retail, while none is permitted in multi-brand.

Starbucks had even entered into a tripartite JV with Kishore Biyani’s Future Group and non-resident Indian businessman VP Sharma. However, the deal petered out , reportedly because of a less-than-warm relationship between Sharma and Biyani.

Unfazed by the setback, a Starbucks spokesperson had then said, “ India continues to be an important market for us and we will revisit our plans in future.” The trend is in clear sync with the growing prosperity levels in India. “There’s a huge market for luxury brands in the country,” said Technopak Advisors chairman Arvind Singhal.