Zara To Open A New Store In Mumbai, And It’s Gonna Be HUGE!
If wishes were to come true, every fashionista would dream that her favourite high street brand becomes available at a location close to her. Because every girl deserves her retail therapy time, doesn’t she? It seems like that wish has now been granted for fashion-loving girls from South Mumbai because they will soon have a new Zara store in their hood!
According to The Economic Times, the Spanish clothing brand has cracked a deal that’s being touted as the biggest yet by any international retailer in India. Zara is leasing a 50,000 sq.ft. space on the ground floor of Ismail Building at Flora Fountain, one of South Mumbai’s prime heritage locations. If sources mentioned in the article are to be believed, the brand will be paying annual rent to the tune of a whopping Rs 30 crores (or Rs 2.5 crore a month) on the lease. (Can you imagine the amount of product the brand intends to move to be able to make rent every month? The mind boggles! Also, we know where the #HauteSquad will be spending after hours once the space opens!)
In India, Zara outlets are operated by Inditex Trent, a joint venture between Spain’s Inditex and the Tata Group. The brand has not come out with an official statement yet, and the spokesperson refused to comment to us either. Currently, Zara has 17 outlets in India, three of which are in Mumbai, at Palladium Mall (Lower Parel), Phoenix Market City (Kurla) and Infinity II (Malad).
How excited are you about this news? Tell us in the comments below.