Mukesh Ambani’s mega-mall Jio World Plaza in Mumbai is set to be the home to many foreign luxury brands and an iconic Spanish brand will open its first store in India.
Billionaire Mukesh Ambani and his family are set to launch their new mega-project in Mumbai – the Jio World Plaza mall, which is set to be the country’s largest luxury mall. Further, this new mall is set to bring one of the most iconic luxury brands to India – Balenciaga.
Balenciaga, a luxury Spanish apparel company, is set to open its first store in India in Mukesh Ambani’s mega-mall, which will be home to the top luxury brands across the world such as Louis Vuitton, Gucci, Prada, and other top brands that have partnered with Reliance.
The luxury Spanish brand is worth over Rs 8500 crore, and has already signed a deal with Reliance to open its first store in India in the Jio World Plaza in Mumbai’s Bandra Kurla Complex (BKC). Balenciaga was earlier set to open a store in Delhi’s DLF Emporio Mall, and the deal is still in the works.
Reliance Brands, headed by Mukesh Ambani and his daughter Isha Ambani, has signed a long-term deal with Balenciaga in 2022, being the fashion firm’s sole partner in India. Through this deal, Reliance had exclusivity in selling Balenciaga products in India.
As of now, Balenciaga clothes and accessories are only sold in India through online retail. When the Jio World Plaza opens, India will get its first Balenciaga store. It is expected that the firm will be paying rent upwards of Rs 40 lakh per month for its store in the Jio mall.
Over the last few years, Balenciaga has emerged as the top competitor of iconic luxury brands like Gucci, Prada and Louis Vuitton. What is interesting is that these brands have also secured their spot in the Jio mall by signing a deal with Reliance.
It is expected that the Jio World Plaza will open in the first few months of January and February, just before the festive season rush dies down.
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 "This Spanish luxury brand to open first store in India in Mukesh Ambani’s mega-mall; top competitor of Gucci, Prada, LV")
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