In 2023, India’s 100 wealthiest individuals boast a combined net worth of $799 billion, according to Forbes, with Mukesh Ambani leading the pack at $92 billion. Ambani, the Chairman and MD of Reliance Industries, recently unveiled the Jio World Plaza, positioned as India’s largest luxury mall, nestled within the Jio World Centre at BKC in Mumbai.
A haven for leading luxury fashion brands, the mall has become home to renowned names like Louis Vuitton, Balenciaga, and Dior, each paying a premium for their coveted spaces.
Louis Vuitton
Louis Vuitton, the eminent French luxury fashion house, has established its fourth store in India at Jio World Plaza. The brand is shelling out a staggering monthly rent of Rs 40.50 lakh for four units totaling 7,365 sq ft, making it Louis Vuitton’s largest store in the country, according to Reuters.
Dior
Joining the ranks of luxury in Ambani’s opulent mall is Dior, another LVMH brand. Mint reports that Dior has secured two units, spanning 3,317 sq ft, for a monthly rent of Rs 21.56 lakh, marking the third store for the French multinational luxury fashion house in India.
Balenciaga
In 2022, Reliance Retail, under the leadership of Isha Ambani, inked a significant franchise agreement with Balenciaga. Jio World Plaza proudly hosts the first store of the Kering-owned luxury fashion brand in India. Balenciaga, much like Louis Vuitton, is forking out a monthly rent of Rs 40 lakh, according to GQ.
Burberry, Gucci, Cartier, and Bulgari
Reuters notes that other luxury heavyweights gracing Jio World Plaza include Burberry, Gucci, Cartier (marking its second store in India), Bulgari, IWC Schaffhausen, and Rimowa (its inaugural store in India), among others.
Apart from the hefty monthly rents, these brands are reportedly obligated to share between 4% and 12% of their monthly net revenue with Reliance. The Jio World Plaza stands as a symbol of opulence, where the crème de la crème of luxury fashion pays a premium for a slice of the prestigious space.
