Reliance Industries Limited’s upcoming Jio World Plaza is welcoming a slew of international luxury brands as tenants, with French heavyweights Dior and Louis Vuitton confirmed to set up shop inside the giant mall, among other global brands.
Reliance has inked a retail deal with Christian Dior, forming a 9.5-year lease agreement for the lease of two units on the ground floor of the Mumbai-located Jio World Plaza, spanning 3,317 square feet, according to local media reports.
Christian Dior currently retails in India through stores in New Delhi, Bengaluru, and Mumbai. The brand’s Mumbai store is located in the Taj Mahal Palace Hotel and retails its menswear, womenswear, accessories, and jewellery ranges.
Meanwhile, luxury goods retailer Louis Vuitton has also leased four units across 7,365 square feet of area on the ground floor of the plaza.
Other brands slated to open inside the mall include jewellers Cartier and Bulgari, fashion house Gucci, watch brand IWC Schaffhausen, and luxury luggage maker Rimowa, which will open its first outlet in India inside the mall, according to a Reuters report.
Jio World Plaza is located inside Reliance’s USD 1 billion business and cultural hub Jio World Centre in Mumbai’s business district. The shopping hub is rumoured to be completed this year.
The personal luxury market in India is expected to expand almost 12 percent a year in 2022-2026, to nearly USD 5 billion, according to Euromonitor.