As per estimates of Euromonitor, India’s luxury market is set to nearly double in size to around US $ 5 billion within five years, and capitalising on the same Reliance is building a giant mall with dozens of outlets for powerhouse brands from Gucci to Louis Vuitton and so on.
This was underlined in a news published by Reuters, which maintained with the Jio World Plaza, Reliance is planning to tap into surging demand for Western luxury goods, while adding the ritzy mall is the centrepiece of Reliance’s bid to lure the uber-rich Indians who plan to buy expensive items.
Citing people in know of things, the giant mall will come up in Mumbai’s Bandra Kurla business district that houses the luxury mall at a cost of upwards of US $ 1 billion.
Another person privy to information related to development of the giant mall, reportedly, maintained Reliance wants to act as a catalyst amidst global brands’ keenness to be in India.
