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Purple Style Labs to Lease Former Zara Store in Mumbai for ₹3 Crore Monthly. Learn More…

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In a significant development within India’s luxury fashion sector, Purple Style Labs (PSL) has announced plans to lease a prestigious retail space in South Mumbai, formerly occupied by international fashion giant Zara. This move underscores PSL’s commitment to expanding its physical footprint and enhancing the luxury shopping experience for its clientele.

The Prime Location

The retail space, situated in a coveted area of South Mumbai, has been a landmark destination for fashion enthusiasts. Previously housing Zara, the store’s strategic location offers high visibility and accessibility, making it an ideal choice for PSL’s flagship outlet. The decision to invest ₹3 crore per month in rent reflects PSL’s confidence in the potential of this prime location to attract discerning customers.

About Purple Style Labs

Established in 2015 by Abhishek Agarwal, Purple Style Labs has rapidly emerged as a leading luxury fashion house in India. The company specializes in curating and scaling Indian designer brands, providing them with a platform to reach both national and international markets. PSL’s portfolio includes renowned labels such as Wendell Rodricks and Hemant Trevedi, as well as the popular multi-designer platform Pernia’s Pop-Up Shop. With a blend of online and offline presence, PSL aims to create premier destinations for discovering Indian designer wear.

Strategic Expansion Plans

Leasing the former Zara store aligns with PSL’s broader strategy to enhance its brick-and-mortar presence. By securing this prime retail space, PSL intends to offer an immersive and personalized shopping experience, showcasing a diverse range of luxury fashion brands under one roof. This expansion is poised to strengthen PSL’s position in the competitive luxury fashion market and cater to the evolving preferences of upscale consumers.

Conclusion

Purple Style Labs’ decision to lease the iconic South Mumbai retail space marks a pivotal moment in the company’s growth trajectory. This strategic move not only amplifies PSL’s physical retail presence but also reaffirms its dedication to bringing premium Indian fashion to a broader audience. As PSL prepares to transform the former Zara store into a luxury fashion haven, customers can anticipate an elevated and curated shopping experience in the heart of Mumbai.

Also read:

Zara Shuts Down Iconic 5-Story Mumbai Store After 8 Years
Business News

Zara Shuts Down Iconic 5-Story Mumbai Store After 8 Years

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After eight years of operation, Zara has closed its only standalone store in Mumbai. This five-story outlet, located in the historic Ismail Building at Flora Fountain, was a significant landmark for fashion enthusiasts in the city. The closure is attributed to escalating operational costs, particularly a substantial annual rent exceeding ₹30 crore.

Background of the Zara Store

Opened in 2017, the 51,300 sq ft store was Zara’s first independent outlet in Mumbai. Housed in the 119-year-old heritage Ismail Building, the store represented a significant investment by Inditex Trent, a joint venture between Spain’s Inditex and Tata Group’s Trent. The company invested ₹35 crore in restoration and interiors, alongside agreeing to a yearly rent of ₹30 crore, marking one of the largest lease deals by a high-street fashion brand at the time.

Reasons for Closure

The decision to close the flagship store stems from economic unfeasibility. A notice posted outside the outlet stated: “Please be informed that this Zara store will cease operations after the end of business on 23rd February. We will continue to assist you all at our Zara stores in Mumbai and at Zara.com/in.” The high operational costs, particularly the steep rent, made it challenging to sustain the standalone store. A source mentioned that focusing resources on mall-based outlets and the growing online business presented more viable opportunities.

Impact on Zara’s Presence in Mumbai

With the closure of the Flora Fountain store, Zara’s presence in Mumbai is now concentrated in five outlets located within shopping malls:

  • Phoenix Palladium in Lower Parel
  • Phoenix Market City in Kurla
  • Viviana in Thane
  • Infiniti in Malad
  • Oberoi in Goregaon

This strategic shift aligns with global retail trends, where brands are reevaluating their physical store footprints in favor of digital platforms and more economically viable locations.

Conclusion

The closure of Zara’s iconic standalone store in Mumbai marks the end of an era for the brand’s physical retail presence in the city. While the decision was driven by economic considerations, Zara continues to serve its Mumbai customers through its mall-based outlets and a robust online platform, reflecting the evolving dynamics of the retail industry.