brand | Industry Updates | luxury | Retail

Jio World Plaza Unveils Opulent Lineup of Luxury Brands, Redefining India’s Retail Landscape

Published: December 21, 2023
Author: Fashion Value Chain

Spread across a vast expanse of 750,000 square feet and spanning four impressive levels, the mall currently boasts 24 luxury brand outlets, with ambitious plans to introduce an additional 42 between November and April. This expansion includes the highly anticipated debut of several notable international brands in the Indian market.

Jio World Plaza isn’t just a luxury shopping destination; it also stands as an architectural masterpiece. Designed collaboratively by US-based TVS and the Reliance team, the plaza draws inspiration from the lotus flower and elements of nature. Iconic flagship stores like Louis Vuitton, Gucci, Cartier, Dior, Bulgari, and Muji have already captured attention with their grand presence, while international brands like Valentino, Versace, and Tiffany & Co. Are gearing up to open their doors in the near future.

Store managers and staff have reported a consistent increase in foot traffic, as more visitors, including luxury connoisseurs and fashion enthusiasts, continue to arrive by the hour.

A representative from Paul & Shark, a renowned Italian luxury fashion brand specializing in yachting-inspired clothing and accessories, highlighted the plaza’s unique feature – the brand’s first-ever global experiential ice room. Here, customers can try on the brand’s jackets, which range from ₹70,000 to ₹2 lakh. The manager of Muji India expressed, “This is our largest store in India, spanning an impressive 12,000 square feet, with a dedicated team of 30 executives serving our customers. Awareness is no longer an issue, as buyers are well-informed about their preferences and actively visiting our stores.”

Mitrajit Bhattacharya, a luxury expert and the founder and president of The Horologists, who attended an invite-only preview at the Plaza on October 31st, remarked, “This is a welcomed development for the luxury industry. The growth of India’s luxury market hinges on the establishment of luxury malls.”

He emphasized the significant role played by luxury malls in China’s market growth and expressed that the launch of Jio World Plaza marks the initial step toward establishing a similar luxury ecosystem in India. While Delhi is home to DLF Emporio, Bhattacharya believes that the comprehensive luxury ecosystem begins here. The mall’s diverse range of brands, excellent infrastructure, and high-profile launch event have set a solid foundation for luxury retail. As more stores open by December, he anticipates the full-fledged emergence of a luxury moment. Bhattacharya personally found Louis Vuitton to be the standout store, offering a comprehensive range and an impressive selection, with Bvlgari also notable for its scale and grandeur.

He further stressed the importance of having a skilled workforce to serve as brand ambassadors for these luxury establishments. Bhattacharya noted his positive interactions with the staff at various stores, appreciating their knowledge and enthusiasm, highlighting the significance of expanding the luxury retail workforce. The debut of Jio World Plaza aligns perfectly with the growing affluent consumer demographic in India. According to the 2023 ‘Wealth Report’ by Knight Frank, India is on the cusp of witnessing a remarkable surge in its ultra-high-net-worth individuals (UHNWI), with a net worth exceeding $30 million. This segment is projected to grow by a substantial 58.4% over the next five years, with the number expected to reach 19,119 by 2027. Additionally, the billionaire count is set to rise from 161 in 2022 to 195 in 2027. This bodes well for the luxury market’s future in India.

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