Zara Shuts Iconic Mumbai Store After Eight Years, Leaving ₹30 Crore Rent Mystery Unanswered!

Mumbai(The Uttam Hindu): Zara has closed its prominent store in South Mumbai’s Fort area after eight years of operation. The five-storey, 51,300-square-foot outlet was housed in the historic Ismail Building. A notice on the door informed customers that the store ceased operations on February 23, without providing a specific reason. It added that shoppers could continue to visit other Zara locations in Mumbai or shop online at Zara.com/in.

In 2017, Zara signed a major lease agreement for the store, paying a hefty ₹30 crore annually, marking it as one of the largest rental deals for a fashion brand in the city. The store, which was Zara's largest in India, opened in the heritage-listed building at Hatuma Chowk Square and was the brand's only standalone outlet in Mumbai, with its other stores located in shopping malls.

Despite this closure, Zara continues to operate in Mumbai, with three stores still open: one in Phoenix Market City (Kurla), another in Phoenix Palladium (Lower Parel), and a third in Viviana Mall in Thane. Zara is part of Inditex SA, the world's largest fashion retailer, which entered the Indian market in 2010 through a joint venture with Tata Group's Trent. The joint venture, Inditex Trent Retail India, is responsible for Zara’s and Massimo Dutti’s operations in the country. Though the reason for shutting down the Fort location remains unclear, the closure signals a shift in Zara’s retail strategy, focusing on fewer, larger stores and a stronger online presence.