Luxury brands represent one of the strongest growth opportunities for Georgia’s retail sector, according to Lasha Kakhishvili, Chief Financial Officer of IG Development Georgia. Speaking on Business Morning, he said attracting more premium international brands would help keep consumer spending within the country and encourage shopping tourism.
According to Galt & Taggart’s Tbilisi Retail Real Estate report, Georgian consumers spent GEL 1.4 billion on clothing and accessories abroad in 2025, with 49% of that spending directed toward luxury brands. Despite this demand, luxury retailers currently occupy only 2% of Georgia’s organized retail space.
Kakhishvili said IG Development Georgia has already brought several new brands into its shopping centers and is positioning the expanded City Mall Saburtalo as a key destination for luxury retail. A significant portion of the new development will be dedicated specifically to premium international brands.
While he did not disclose the names of the brands under negotiation, Kakhishvili noted that discussions with major luxury retailers have made substantial progress. He added that the company is analyzing where Georgians spend most of their luxury shopping budgets abroad, with the goal of attracting those brands first and creating a “domino effect” that will encourage additional luxury labels to enter the Georgian market.
