India’s retail sector witnessed a remarkable revival in 2022, an upward momentum that has persisted throughout 2023.
A combination of favourable economic conditions and restored consumer confidence has ignited a surge in leasing activity and the establishment of fresh retail outlets by both domestic and international retailers, according to JLL.
A major new development is Reliance Industries’ luxury mall Jio World Plaza, which opened on 1 November and welcomed a slew of international luxury brands to Mumbai including French heavyweights Dior and Louis Vuitton, among other tenants.
Embedded within the Bandra Kurla Complex in Mumbai, Jio World Plaza is situated close to the Nita Mukesh Ambani Cultural Centre, the Jio World Convention Centre, and the Jio World Garden. The glittering mall spans 750,000sq ft and features over 60 luxury brands, including 20 flagship stores from such brands as Louis Vuitton, Gucci, Dior and Burberry, to Bulgari, Cartier, Tiffany & Co. and Rolex. Jio World Plaza also houses Bulgari and Pottery Barn’s first stores in Mumbai, as well as Armani Caffe.
Isha Ambani, Director at the Mukesh Ambani-chaired Reliance Industries, said in a press statement: “Our envisioning of the Jio World Plaza is aimed at bringing the best global brands to India as well as highlighting the prowess and craftsmanship of top Indian brands; hence creating a very unique retail experience. Our pursuit of excellence, innovation and enhancing customer experience continues to propel us in every venture.”
