Dior to open store in Mumbai at RIL’s Jio World Plaza

French luxury clothing and accessories brand Christian Dior SE has taken on a lease for a 3,320 square foot retail space in the Reliance Industries owned Jio World Plaza in Mumbai’s business-centred district Bandra- Kurla Complex. The brand plans to open a store in the metro to bolster its India retail presence. 

Christian Dior signed the lease through its subsidiary named Christian Dior Trading India, ET Bureau reported. The brand has signed a 9.5 year lease on the space and intends to set up a long-lasting retail outlet in the shopping centre. 
 
According to the lease agreement, accessed by the Economic Times from platform Floor Tap, there will be a lock-in period of 36 months and the lease will be operational until May, 2032. The lease agreement also includes a plan to escalate rentals by 7.5% from the 19th month until the 42nd month and then by 15% every 36 months of the lease. The brand’s security deposit on the lease totalled Rs 1.39 crore and this will also be subject to 15% escalation every 36 months. 

Christian Dior currently retails in India through stores in New Delhi, Bengaluru, and Mumbai. The brand’s Mumbai store is located in the Taj Mahal Palace Hotel and retails its menswear, womenswear, accessories, and jewellery ranges.