Mukesh Ambani’s new mega-mall to charge over Rs 40 lakh per month rent; check list of luxury brand storesSeptember 18,2023
Mukesh Ambani’s company Reliance is making a major splash in retail with his most recent project, the Jio World Plaza, which is expected to be one of most luxurious and exclusive shopping mall complexes of the country, with many luxury brands already securing their piece in the new venture.
Luxury clothing and accessories brands like Gucci, Cartier, and Louis Vuitton have already signed the leases of rent out stores in the Jio World Plaza, which is set to be located in the hub of the Reliance business empire in Mumbai’s Bandra Kurla Complex (BKC).
Many luxury international brands are set to expand their retail market in India through this new venture by Mukesh Ambani’s Reliance Industries Ltd (RIL). Sources as quoted by Reuters, the Jio World Plaza is set to open sometime this year.
Ahead of the festive season in India, over a dozen luxury foreign brands including couture and accessories are expected to enter the Indian market, with the majority of them being partners of Reliance Retail, which is headed by Mukesh Ambani’s daughter Isha Ambani.
Further, the lease of multiple luxury brands in the Jio World Plaza such as LV, Gucci, and others show that they have signed a contract for over 9 years to run a store in the mall, with the rent as high as Rs 40.50 lakh per month.
Here is a list of luxury international brands set to come to India through Mukesh Ambani’s mall –
- Louis Vuitton
- IWC Schaffhausen
Under Kering, several French brands such as Balenciaga, Bottega Veneta, Yves Saint Laurent, Creed, and Alexander McQueen will be opening their first mall outlets in India, made possible through the Jio World Plaza in Mumbai.
While the exact date of the project has not been announced yet, it is expected that Reliance will be opening the mega-mall sometime in November or December.