Fashion brand Zara has announced the closure of its “icon” Sobo store, which is located in the fortress area in southern Mumbai eight years later. Netizens discovered the notification posted on the doors of the 110-year-old’s five storage rooms and shared it on social media.
Zara closed its flagship Mumbai store on February 24, according to the Citizen Report. This 51,300 square foot five-story store is located in the 110-year-old Ismail building in the southern Fort area of Mumbai.
Why is Zara closing its largest store in India?
According to the notice posted on the door, there is no reason to close. It simply says: “Please let this Zara store know that it will cease operations after the end of its business on February 23. We will continue to help you in the Zara store in Mumbai and zara.com/in.”
It is worth noting that according to a report by the Times of India, Inditex Trent shelled a high-profile ₹In 2017, the rent is 300 million yuan per year, with a five-year lock-up period. At that time, this was the largest rental deal for fashion brands.
Zara’s largest store in Mumbai
The store opened in 2017 on a heritage site in the Fort Fort Area in southern Mumbai, the largest fashion brand in the country. It is also the only independent store for the city’s high street fashion brand, as its other stores are located in shopping malls.
A spokesperson told MINT in 2017 that the company “does not open many stores” but rather large stores in India and around the world. This is thirty-four years before the Covid-19-19 pandemic.
Zara is owned by Inditex SA, the world’s largest fashion retailer, which has been with Tata Group’s Trent joint venture (JV) 65:35 joint venture (JV) since 2010. In India, the joint venture retail industry is called Inditex Trent Retail India, which brings two brands to the Zara and Massimo Dutti brands in India.
Currently, Zara still has three other channels in India’s financial capital and the neighboring Tana region. One shop is located in the outskirts of the city of Kurla, a shop in the southern part of Mumbai, located in Lower Parel, Phoenix, one of which is located in the Viviana shopping center in Thana.
