D2C brands go offline, powering a mall leasing boom
Subscribe to enjoy similar stories. Bengaluru: Direct-to-consumer (D2C) brands are emerging as one of the biggest drivers of mall leasing in India, as customer acquisition costs rise online and the need for physical visibility pushes them offline. Direct-to-consumer brands accounted for 27% of India’s total retail leasing in 2025, up from 25% in 2024, according to a report by Coldwell Banker Richard Ellis (CBRE), the world’s largest commercial real estate services and investment firm.
Malls, according to the report, account for two-thirds of the said total retail leasing. The digital-first brands’ visibility in malls is found in some of the top metro cities in the country. Mumbai topped the list, with D2C brands accounting for 31% of total leasing, followed by Bengaluru at 27% and Delhi at 22%.
Retail leasing hit a record of 8.9 million sq ft in 2025, with 5.6 million in the second half. Fashion and apparel brands dominated the surge, followed by food & beverage and jewellery. “D2C brands have a far better advantage over traditional brands as they have the database required to geo-target and reach their consumers," said Pushpa Bector, senior executive director and business head, DLF Retail.
Lenskart, Chumbak, Bluestone, Snitch, and Souled are among the brands that have opened physical stores in DLF's malls. For the mall operator, these brands attract value-conscious young shoppers and increase footfalls in its malls. “We don't believe in just picking up any brand.
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