Besides Louis Vuitton, another LVMH Moët Hennessy Louis Vuitton (LVMH) brand to have its store in Mukesh Ambani’s luxury mall Jio World Plaza is Dior. According to Mint, Dior has leased two units of 3,317 sq ft for a monthly rent of Rs 21.56 lakh. This is the leading French multinational luxury fashion house’s third store in India.
In 2022, Isha Ambani-led Reliance Retail signed a long-term franchise agreement (as its sole partner) with Balenciaga to introduce the leading luxury fashion house to India, according to Times of India. Jio World Plaza is also home to the Kering-owned luxury fashion brand’s first store in India. According to DNA India, Balenciaga is paying a monthly rent similar to Louis Vuitton, a steep Rs 40 lakh to lease a store in Mukesh Ambani’s luxury mall.
According to Reuters, other leading luxury brands setting up stores at Jio World Plaza include Burberry, Gucci, Cartier (second store in India), Bulgari, IWC Schaffhausen and Rimowa (first store in India), amongst many others. Reportedly, the leading luxury brands also have to share between 4% and 12% of their monthly net revenue with Reliance alongside the massive monthly rent.
