Indian billionaire Mukesh Ambani’s Reliance Industries is preparing to open its luxury mall, Jio World Plaza (JWP), to the public in Mumbai. Located in the Bandra-Kurla Complex, JWP will host high-end global brands such as Gucci, Louis Vuitton, and Tiffany, along with entertainment experiences. Ambani’s daughter, Isha Ambani, will oversee the retail arm of Reliance Industries. The vision for JWP is to bring the best global brands to India while showcasing top Indian brands, creating a unique retail experience. A soft opening was held, with celebrities like Deepika Padukone and Kareena Kapoor in attendance. Spanning four levels and with an area of 750,000 square feet, JWP will offer a total of 66 luxury brands, including newcomers to the Indian market like Balenciaga and Pottery Barn Kids. Key flagship stores will include Louis Vuitton, Gucci, and Cartier. JWP will also feature regional designers and a fashion exhibit. Additionally, the Qatar Investment Authority plans to invest $1 billion in Reliance Retail Ventures. Despite its large population and a per capita income of $2,300, India is home to over 800,000 dollar millionaires who contribute to the luxury market’s growth. Knight Frank estimates that India will have 1.4 million millionaires by 2026. Euromonitor predicts a 12% annual growth in the personal luxury market in India, contrasting with China’s slowing economy.
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