Mukesh Ambani is the richest man in India and one of the wealthiest men in the world with a net worth of a whopping $92 billion (approximately Rs 7.6 lakh crore). Mukesh Ambani, Chairman and MD of Reliance Industries, is always looking to expand his business and he did it recently again, with the launch of Jio World Plaza, lauded as India’s largest luxury mall.
Jio World Plaza is a part of Jio World Centre at BKC in Mumbai which houses leading fashion brands like Louis Vuitton, Balenciaga, and Dior who have leased a space for their stores. Today, we will tell you how much rent these luxury fashion brands pay per month for a space in the Jio World Plaza.
Louis Vuitton is a French luxury fashion house and in the Jio World Plaza, it recently launched its fourth store in India. According to reports in the media, Louis Vuitton is paying a towering Rs 40.50 lakh as monthly rent, having leased four units totaling 7,365 sq ft. This is reportedly Louis Vuitton's biggest store in India.
Another LVMH Moët Hennessy Louis Vuitton (LVMH) brand which has a store in Jio World Plaza is Dior. Reports state that Dior has leased two units of 3,317 sq ft for a monthly rent of Rs 21.56 lakh. This is Dior's third store in India.
Mukesh Ambani's daughter Isha Ambani led Reliance Retail, in 2022, signed a long-term franchise agreement with Balenciaga to introduce the brand to India. This is Balenciaga's first store in India at the Jio World Plaza. Reports state that Balenciaga is paying a monthly rent similar to Louis Vuitton, a staggering Rs 40 lakh to lease a store in Mukesh Ambani’s luxury mall.
Other leading luxury brands with stores at the Jio World Plaza include Burberry, Gucci, Cartier (second store in India), Bulgari, IWC Schaffhausen, and Rimowa (first store in India), among others.
Reports state that apart from the monthly rent, these leading luxury brands also have to share 4% to 12% of their monthly net revenue with Reliance.
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