Mukesh Ambani owns India’s largest luxury shopping mall Jio World Plaza, its monthly rent is…, it covers an area of…
The Jio World Plaza in Mumbai, Maharashtra, which officially opened for business on November 1, 2023, is the largest luxury shopping mall in India, owned by Reliance Industries Chairman, Mukesh Ambani, the richest man in Asia. Spread across a massive 70,000 square meters, the Jio World Plaza boasts a jaw-dropping decor, featuring sparkling chandeliers and a marble-clad entrance, giving the luxurious mall an elegant and elite feel.
A wide array of Indian and Western brands have their showrooms inside the grand mall, including global luxury brands like Cartier, Louis Vuitton, Bvlgari, Valentino, Balenciaga, Christian Dior, Rimowa, and Tiffany & Co. The plaza also hosts luxury apparel from famous Indian designers like Manish Malhotra, Abu Jani Sandeep Khosla, and Rahul Mishra.
Stretched across an impressive 750,000 square feet of space, Mukesh Ambani’s Jio World Plaza is set to become the home to various global luxury brands, such as Saint Laurent, Valentino, Tory Burch, Tiffany & Co., Ladurée, and Pottery Barn, who are opening their first brand exclusive stores in the heart of India’s financial capital.
Additionally, French luxury fashion giant, Louis Vuitton, also opened its largest store in the country at Ambani’s luxury mall.
Isha Ambani — the daughter of Mukesh Ambani and Nita Ambani — who heads Reliance Retail, believes the Plaza will elevate luxury retail experience in India and showcase the craftsmanship of Indian luxury brands.
The Jio World Plaza is located in the renowned Bandra Kurla Complex (BKC), which houses the headquarters of several multinational corporations (MNCs), and is known as a hub of recreation and entertainment for the city’s affluent, featuring high-end restaurants like Hakkasan and Yauatcha, entertainment venues, and the recently launched Nita Mukesh Ambani Cultural Centre (NMACC).
Jio World Plaza monthly rent
Though information is limited about the amount of rent paid by various brand stores at the Jio World Plaza, its been reported that Louis Vuitton is paying a staggering Rs 40.50 lakh in rent for for four units totaling 7,365 sq ft, as per Reuters.
Dior, another French luxury brand, is paying a monthly rent of Rs 21.56 lakh for two units, spanning 3,317 sq ft, according to The Mint.
Balenciaga, luxury fashion brand brought to India by Isha Ambani’s Reliance Retail, is shelling out a whopping Rs 40 lakh in monthly rent, according to GQ.
According to Reuters, other luxury brands, including Burberry, Gucci, Cartier, Bulgari, IWC Schaffhausen, and Rimowa, among others, also pay hefty amounts in monthly rent, in addition to being obligated to share 4-12% percent of their monthly revenue with Reliance.