Top global luxury brands to open stores in Reliance’s $1b mall the size of 10 football fields for uber-rich Indians Louis Vuitton, Gucci

[jamahir]

I said get lost, preferably to North Korea or other such banana communist miracles.

Are you the lord and master of the forum and the internet and the world ?

Edit : BTW what solutions have you found to which problems ?

 

[Goenitz]

@jamahir
I am familiar with the origin of currency, and before that money. Then gold backed and FIAT. It has pros and cons. We need somee xpensive items for economy cycle, safety, comfort, but not an overdose of it. Like 52 seasons for clothing industry. In ZARA, there is something new in every week.

Islam is all about balance. No extreme is required. Neither less spending nor over. Neither full state ownership nor full competitive. Even a marriage relies on healthy dependency on each other. Burdeing one memeber of spouse leads to failure. There are always vulnerable who need extra care (communism) but people who do extra effort need appreciation and reward (capitalism). Liek there are weak students and soem are extraordinary. A gardrenr knows taht with proper sunlight and a little extra care, all can grow.

 

[-=virus=-]

The story of money and its corruption

There was a time when money was invented and before that your friendly neighborhood chaat waala would give you a plate of aloo papdi or golgappas in direct exchange for a weight of grain or a dozen eggs or vegetables or shoes through the system of barter. Perhaps you would have worked for a boss who paid you in weekly food and clothing materials by taking from his own farmlands or his sources for barter. But this became inconvenient because it wasn't always that the chaat waala wanted shoes so they thought up of a medium to exchange goods where the value of the medium during transaction could vary depending on the type of the goods like 10 value for a plate of your aloo papdi and 45 value for a pair of shoes. That medium for transactions, for exchange of goods and services where the value could vary during the time of transaction was money and to represent money physical means were used like shells, things that were easily available.

Accha, you want to bring barter the barter system of the ancient world ?

Dunia badal chuki hai from those days, just in case you had no idea.

It does still exist in a sense though, in that I've traded computer parts, watch, random items like a nice lighter etc with friends.. mujhe unka kuch maal chahiye tha, unhe mera.. simple exchange kar lia.. sab khush. You can try your luck at a nice restaurant when the bill finally comes by offering to give them some shells, or maybe even your copy of the Colonel's green book .. let us know how that goes.

But then politics for socio-economics started where the local feudal or monarch instituted a treasury where the money shells were hoarded and then distributed out to a few people who were the feudal's or monarch's close supporters and these supporters then could obtain the society's goods and services to a greater extent than other citizens because those few had more money and the rest had less. The rulers doling out the money to their close supporters were the first Modi, Shah, Ambani and Adani. If there was a people's insurrection against the four and the people went back to barter system then the money system would collapse because it was artificial. The bird didn't eat the fruit by paying two money shells to the tree nor did the cat pay four money shells to someone to grab a mouse but many people paid each other money shells. Money was human-made and artificial.

Tu bird hai ya cat hai ?

or just a birdbrain who likes cats ?

Using their political power Modi and Shah kept the bulk of the money shells and created an ecosystem where every goods and service was available only by paying the money shells. If you wanted a house pay the shells, if you wanted wheat pay shells, if you wanted to see the doctor pay the shells. To keep the people subdued Modi and Shah created a wage slavery slavery system where the treasury's stock of shells was dipped into every month and some extract to pay the wages of the people, enough to allow the people to circulate the shells through the rulers' socio-economic system where the people's monthly needs are met at the cost of stretching out the shells but not enough shells for the people to access all those goods and services easily obtained by Modi and Shah's friends Ambani and Adani.

Ambani = RIL, oil and gas, retail, finance.. pretty big company, y'know ? They employ a lot of people and pay them quite handsomely I've heard. Also made a lot of infra around the country, as has Adani, infra which has helped normal trade and commerce become more streamlined apart from all the people who make a living doing those things. Goof thing we have these big industrial companies here.

A plague hit the city and many people took ill and were crying for oxygen and medicine. Modi and Shah had not built hospitals and instead had been busy building palaces and statues. Since even life in the city had to be maintained by paying the money shells and since the people's money shells were meager after having spent most of them on monthly expenses and since hospitals were very few and since Modi and Shah had enabled creation of moral corruption regarding money, some crooks among the people took advantage of the plague and convinced less rich versions of Ambani and Adani to buy up oxygen and medicine either locally or from abroad and then these crooks sold or were booked up to sell oxygen and medicine outside the official channels of the power-hungry and money-for-self-circulating Modi and Shah. But the plague did not listen to the prayers of those people who bought oxygen machines and medicines for their homes, and Modi and Shah had not built proper hospitals to care for the plagued people. Millions died. But Modi, Shah, Ambani and Adani who were protected by their military and personal doctors were not afflicted by the plague and did not care for the millions who died. The millions were a statistic. Some of the other millions in the city continued to suffer Modi, Shah, Ambani and Adani because these four had been chosen after all by the people.

As I said earlier, the plague killed indiscriminately, including a lot of rich folk who could afford the best medical treatment.. but they succumbed to it too.. life.. this is how it goes.

The motorcycle which by itself is an anti-harmony vehicle and on top of that your particular vehicle is noisy by being made that way in the factory itself, that vehicle costs 3.1 lakhs. Now since you say you are middle class but not poor can you lend or gift your friend 20 lakhs for him to start a company ?

What do you mean anti harmony ? It's a killer bike, good bang for buck, amazing performance, I <3 the old school looks.

I'm no venture capitalist, nor do I have oodles of cash just to do charity.. most impostantly, it's a good practice to neither borrow from or lend to people. There are banks for those kinds of things. I would, however, lend to a friend who I know is good for his word and that I'll get my money back. One has to be smart with finances.. kisi din billionaire bana to thodi charity zaroor karoonga.. like an animal shelter where unemployed dog/animal loving people will be given a chance to do seva for our furry friends.

Ah, "Go to DPRK" but not make India a DPRK where housing is provided free by the system and where there is no obscene contrast of an Ambani with a personal 27-storey house made with personal two billion dollars with nearby people who could afford only to buy a slum plot.

Yes, 100000% not make India a DPRK.

Ambani ne dharavi waalon ke paise chura ke thodi banaya hai apna ghar ?

Not sure about his finances but rocket man lives quite well, certainly seems to eat well.. unlike most of the population there.

Your fault is that you didn't ask the government why it was building Modi a new PM palace while he should have redirected those human, material and financial resources to build a few COVID hospitals and treat COVID sufferers for free.

No, wrong again.. it is not Modi's palace by any stretch. It is a facility that will house the GOI, kal ko commies ya Raul Ghandy election jeet gaye to they will rule from there too.

If you had lived 25 years ago you would have not said this. From the Japanese Red Army in the East to the FARC in the West they all were / are trying to build a progressive, empathetic and just humanity. Your callousness and snarky words are obscene.

Your ideas are beyond retarded and have failed literally everywhere on earth. Even China abandoned communism, and they've just gone from strength to strength, their quality of life has only improved since they became capitalist (or whatever hybrid model they use there)

meanwhile in DPRK... prison camps, starvation and poverty etc at a scale never seen anywhere on earth.

 

[Paitoo]

@jamahir

Bhai what is wrong if someone wants to buy a million Rupee bag. This is a good way of getting their wealth back into circulation without the corresponding reduction in availability of real goods.

Socho agar Ambani 500 Rupay ke 20,000 bags khareed kar ghar mein thoons lega, to hum apni biwi ke liye kya khareedenge?

 

[Bilal9]

@Sudarshan, you are the epitome of Modi's bhakts - not very intelligent, callous, superficial, unquestioning, unthoughtful etc and hence you leave ha ha reacts to my posts.

There was a time when no one gave a rat's a$$ about what these class of cockroaches thought, because they had no money.

Now with the rise of backoffice and other careers, these crass semi-educated idiots have a say economically - and therein lies the sad situation in today's India.

In Bangladesh we have crass under-educated people like this too, but they are well controlled, whereas in India, the amount of disciplining seems to be in short supply. Some get to be India's PM.....

Louis Vuitton, Gucci, Hermes, Cartier among outlets

Mumbai: Indian tycoon Mukesh Ambani is betting a shopping palace within a $1 billion Mumbai business showcase will tap into surging demand for Western luxury goods, installing his Reliance empire as a portal through which most of the biggest brands must pass.
Though still small for a country of its size, India’s luxury market is set to nearly double in size to nearly $5 billion within five years, Euromonitor estimates. Targeting that growth, Reliance is building a mall with dozens of outlets for powerhouse brands from Louis Vuitton to Gucci, documents reviewed by Reuters show.

The ritzy mall, Jio World Plaza, is the centrepiece of Reliance’s bid to lure uber-rich Indians eyeing expensive bags or shoes. Luxury dominance would come on top of its number one position in India’s nearly $900 billion retail market, where it faces intense competition in e-commerce and supermarkets from the likes of Amazon and Walmart.
Three people with direct knowledge of Reliance’s strategy said the push is aimed at leveraging foreign brand partnerships and being ahead of retail rivals in luxury offerings.
The total cost of developing the Jio World Centre - a giant commercial and cultural hub in Mumbai’s Bandra Kurla business district that houses the luxury mall - is upwards of $1 billion, a person with knowledge of the matter said.

“Global brands want to be here (India), Reliance is trying to drive that boom and act as a catalyst,” said a second person with knowledge of Reliance’s strategy.
The sources declined to be identified because they’re not authorised to disclose Reliance’s strategy publicly.
Reliance did not respond to Reuters’ requests for comment.

Floorplan​

The mall, spread across four floors and the size of 10 soccer fields, will come complete with marble floors and golden guardrails, the documents show. After COVID-19 disruptions delayed raw material imports, the mall will likely to open early next year, sources said.
A floorplan in a Reliance document reviewed by Reuters shows some 30 brands as confirmed in recent weeks for the upper ground floor of the mall, including LVMH’s Louis Vuitton, Tiffany and Dior. Also present will be LVMH rival Kering’s Gucci, Balenciaga and Bottega Veneta, along with Versace, Richemont’s Cartier and Hermes.

The document doesn’t disclose financial details, nor whether the brand line-up might be subject to change. None of the brands responded to requests for comment.
The Jio World Plaza outlets represent significant India expansion for many brands. Company websites show, for example, Louis Vuitton has just three stores in India, despite opening its first outlet two decades ago, while Versace has just one.
Louis Vuitton’s outlet in the mall will be its biggest in India at 7,376 square feet, the document shows.
Anarock Property Consultants’ Pankaj Renjhen said India’s luxury market is so small that many foreign brands prefer partnering with Reliance to keep costs in check and capitalise on its grip - and understanding - of India’s retail market.
Euromonitor estimates the size of India’s personal luxury market was $2.6 billion last year, but set to grow 12% a year to reach $4.7 billion by 2026. By comparison, the market in China, where Louis Vuitton has around 60 outlets and Versace 40, will be up to $107 billion by 2026 from $58 billion last year.

Foreign brands for years have been hamstrung by issues including a limited number of stores in India, which “creates a chicken and egg problem,” said Luca Solca, senior luxury goods analyst at Bernstein.

Top global luxury brands to open stores in Reliance’s $1b mall for uber-rich Indians

Louis Vuitton, Gucci, Hermes, Cartier among outlets

gulfnews.com

What’s going into Reliance’s new Mumbai mall, the size of 10 football fields​

Left: Artist's impression of Jio World Plaza mall. Right: Louis Vuitton’s outlet in the mall will be its biggest in India at 7,376 square feet. Representational image: iStock.
A giant mall equal to the size of 10 football fields is set to be the new shopping destination for luxury goods in India.

Come 2023, Reliance will open this massive mall – Jio World Plaza mall – in the heart of Mumbai. Marble floors and golden guardrails will welcome visitors to this upscale mall as Mukesh Ambani’s company targets the uber-rich in the country. Besides luxury goods and cafes, the mall will also house a six-screen multiplex cinema.

Mukesh Ambani’s 30-year-old daughter Isha Ambani is closely involved in this project, a report said.

Last month, Reliance opened the 18.5-acre Jio World Centre, built at a cost of $1 billion. In the same complex, the Jio World Plaza mall, spread over four floors, will be located.


30 luxury brands confirmed

According to the Jio World Centre’s website, the mall will be “Mumbai’s newest luxury shopping destination with a curation of iconic fashion, food and entertainment”.

“The centre will also be home to new and innovative culinary concepts including Oberoi 360 and the global culinary sensation, India Accent; a retail precinct with world-class shopping experience and luxury brands,” it added.

A Reuters report said so far 30 brands have been confirmed for the mall.

“A floorplan in a Reliance document reviewed by Reuters shows some 30 brands as confirmed in recent weeks for the upper ground floor of the mall, including LVMH’s Louis Vuitton, Tiffany and Dior. Also present will be LVMH rival Kering’s Gucci, Balenciaga and Bottega Veneta, along with Versace, Richemont’s Cartier and Hermes,” the report said.

The document doesn’t disclose financial details but confirmed that Louis Vuitton’s outlet in the mall will be its biggest in India at 7,376 square feet.

Euromonitor estimates the size of India’s personal luxury market was $2.6 billion last year, but is set to grow 12% a year to reach $4.7 billion by 2026. By comparison, the market in China, where Louis Vuitton has around 60 outlets and Versace 40, will be up to $107 billion by 2026 from $58 billion last year, the report said.

As per the document, the Mumbai mall is the Ambanis’ first attempt to bring non-partner, high-wattage luxury brands together with existing partners for local sales like Tiffany and Bottega Veneta. Around half the luxury floor’s brands will be Reliance partners.

‘Image booster’ for Reliance

Luxury executives see the mall as a show of strength in a long-game bet for Reliance that is much more than a vanity project for Isha and the Ambani family, even though it won’t be a money-spinner anytime soon. Isha has been closely involved in conceptualising the new mall, including how Reliance pitched the highly sensitive placement of rival brands next to each other, sources told Reuters.

Four Indian brands – in which Reliance invested in recent months with plans to take them global – will be the only domestic names on the luxury floor of the mall, the report said.

“The mall will act as a great image booster for Reliance. It appears they want to convey: ‘You can’t think of India without thinking of Reliance’,” Abhay Gupta, CEO of Indian consultancy Luxury Connect, which advises several global brands, was quoted as saying in the report.

Jio World Centre has been envisioned by Nita Ambani, Director, Reliance Industries and Founder-Chairperson of Reliance Foundation.

She said, “Jio World Centre is a tribute to our glorious nation and a reflection of the aspirations of New India. From the largest conventions to cultural experiences to pathbreaking retail and dining facilities, Jio World Centre is envisioned as Mumbai’s new landmark, a point where we come together to script the next chapter of India’s growth story.”

Jio World Centre’s “ahead-of-its-curve building has been developed with an international design vocabulary while honouring the culture and spirit of India”, Reliance said.

“It is a pioneer in technology and digital innovation and offers exceptional experiences such as India’s first 5G enabled digital infrastructure with uninterrupted data, virtual and hybrid events and unparalleled online cultural experiences,” according to the centre’s porta

What's going into Reliance's new Mumbai mall, the size of 10 football fields

Luxury executives see the mall as a show of strength in a long-game bet for Reliance that is much more than a vanity project

thefederal.com

https://twitter.com/x/status/1518877060445351936

Where are the factories and training centers to build India's next generation of workers building new technology things? Where are the educational centers educating India's talent in new virtual technologies??

Instead we have crass Tejarati idiots building gaudy malls, of which there is no shortage of in Dubai, which is a couple of hours' flight away.

The only difference is that Dubai is a 1st world country considering any parameter, while India is for all purposes a 3rd world Hovel....

India needs more facilities to train its poor for the next phase of development, not build more gaudy malls to showcase ill-gotten money by looting gareebon-ka-huq....

 

[Bilal9]

@jamahir

Bhai what is wrong if someone wants to buy a million Rupee bag. This is a good way of getting their wealth back into circulation without the corresponding reduction in availability of real goods.

Socho agar Ambani 500 Rupay ke 20,000 bags khareed kar ghar mein thoons lega, to hum apni biwi ke liye kya khareedenge?

How is buying a million Rupee bag made in France or Italy going to help the Indian economy ??

What amount of value addition by Indians (of any skill) has gone into the making of this million rupee bag ??

How many working Indians will this single sale feed ?

Maybe a few store employees and what have they contributed value addition wise ?

@jamahir bhai am I too far off the mark?

Useless economic activity if you ask me....

Side Note: Don't buy 500 rupee bags for your wife. Just sayin'. Will do worse effect than not buying at all....

 

[Skull and Bones]

How is buying a million Rupee bag made in France or Italy going to help the Indian economy ??

What amount of value addition by Indians (of any skill) has gone into the making of this million rupee bag ??

How many working Indians will this single sale feed ?

Maybe a few store employees and what have they contributed value addition wise ?

@jamahir bhai am I too far off the mark?

Useless economic activity if you ask me....

Side Note: Don't buy 500 rupee bags for your wife. Just sayin'. Will do worse effect than not buying at all....

These luxury goods carries a tax rate of about 30%, which is going to pay for the subsidies and facilities provided by the government. It pays to buy luxury goods in India, rather than these rich folks flying abroad and buying it somewhere in US or Europe.

 

[Bilal9]

These luxury goods carries a tax rate of about 30%, which is going to pay for the subsidies and facilities provided by the government. It pays to buy luxury goods in India, rather than these rich folks flying abroad and buying it somewhere in US or Europe.

Subsidies and handouts to the populace (even of the agricultural type) are rather minimally helpful when compared to actual wages earned with good workaday jobs that pay a person's roti, kapra aur makaan. This is how Bangladesh grew and has already exceeded the per capita nominal GDP of India. More to come on that front....

Talking about bottom up growth my friend, which is unthinkable to the Hindutvas who are sold on Brahmin superiority. Some fine day Bhagwan gave India the gift of Backoffice - and ever since then, that blessing has caught the fancy of the Hindutva supremos, India will grow by Top-down trickle-down economics! Fat chance. 'Chalta Hai' attitude rather than thinking out-of-the-box.

It's what Amartya Sen was talking about - who was a Nobel recipient brilliant mind with origins in Bangladesh. He said that he suggested to Hindutva leaders to raise taxes on the gold imported from overseas which could easily pay for school lunches that improved performance by malnourished elementary school children in India - who by the way are worse performing than even their counterparts in Bangladesh (4th grader does not know how to multiply etc.).

They basically blew him off. How dare he impinge on the societal benefits enjoyed by the privileged cosseted Brahmin class? Nobel prize in economics, so what? Called him all kinds of nasty names, questioned his mode of thinking - etc.

It's a sad situation in India.

 

[Bilal9]

Are you the lord and master of the forum and the internet and the world ?

Edit : BTW what solutions have you found to which problems ?

Like you said - undereducated people think they know everything and fail to respect other people's opinions.

 

[Skull and Bones]

Subsidies and handouts to the populace (even of the agricultural type) are rather minimally helpful when compared to actual wages earned with good workaday jobs that pay a person's roti, kapra aur makaan. This is how Bangladesh grew and has already exceeded the per capita nominal GDP. More to come - read the reports and weep....

Talking about bottom up growth my friend, which is unthinkable to the Hindutvas who are sold on Brahmin superiority. Some fine day Bhagwan gave India the gift of Backoffice - and ever since then, that blessing has caught the fancy of the Hindutva idiots, India will grow by Top-down trickle-down economics! Fat chance. 'Chalta Hai' attitude rather than thinking out-of-the-box.

It's what Amartya Sen was talking about - who was a Nobel recipient brilliant mind with origins in Bangladesh. He said that he suggested to Hindutva leaders to raise taxes on the gold imported from overseas which could easily pay for school lunches that improved performance by malnourished elementary school children in India - who by the way are worse performing than even their counterparts in Bangladesh (4th grader does not know how to multiply etc.).

They basically blew him off. How dare he impinge on the societal benefits enjoyed by the privileged cosseted Brahmin class? Nobel prize in economics, so what? Called him all kinds of nasty names, questioned his mode of thinking - etc.

It's a sad situation in India.

Point 1: Agree with you here, jobs anyday is better than handouts.

Point 2: I disagree with the fact of brahmin superiority, I myself belong to OBC class, and I outperformed many of my 'brahmin' peers on both academia and finance, starting from basically lower middle class. Maybe in some segment of the population Brahmin superiority exists mainly because of ancestral heritage and properties.

Point 3: I do not disagree with Amartya Sen either, even I am a proponent of increasing taxes on non necessary items like alcohol, cigerretes, soda and carbonated waters, expensive cosmetics and stuffs to provide a balance on the tax relief daily necessary items. In rural India, primary education is really in shambles, specially in Bengal, Bihar and UP belt. Southern India is doing much better in this regard, govt needs to focus on this as well.

Point 4: I am not an economics student to analyze the policies put forward by Amartya Sen and his student, Abhijit Banerjee, but if someone can explain in laymen's term to me, I will be all ears, and maybe I can then make an opinion by myself.

 

[Paitoo]

How is buying a million Rupee bag made in France or Italy going to help the Indian economy ??

What amount of value addition by Indians (of any skill) has gone into the making of this million rupee bag ??

How many working Indians will this single sale feed ?

Maybe a few store employees and what have they contributed value addition wise ?

@jamahir bhai am I too far off the mark?

Useless economic activity if you ask me....

Side Note: Don't buy 500 rupee bags for your wife. Just sayin'. Will do worse effect than not buying at all....

It need not be an imported bag. It could be any expensive thing produced locally. Like Ambani's house. If the rich don't spend and instead sit on their money, how will it move back into circulation into the economy for the rest of us to earn? If true egalitarian society cannot be achieved practically, getting the rich to pump back their money is the next best option. It is hoarding wealth that is a problem (like temples sitting on gold), not spending it.

 

[jamahir]

How is buying a million Rupee bag made in France or Italy going to help the Indian economy ??

What amount of value addition by Indians (of any skill) has gone into the making of this million rupee bag ??

How many working Indians will this single sale feed ?

Maybe a few store employees and what have they contributed value addition wise ?

@jamahir bhai am I too far off the mark?

Useless economic activity if you ask me....

No bhai, you are quite correct in your questions.

These luxury goods carries a tax rate of about 30%, which is going to pay for the subsidies and facilities provided by the government. It pays to buy luxury goods in India, rather than these rich folks flying abroad and buying it somewhere in US or Europe.

About taxes and the questionable "facilities" in India I have written this post just a hour ago.