Zara shuts ‘iconic’ 5-storey outlet in South Mumbai after 8 years

Fashion brand Zara has reportedly shut its ‘iconic’ SoBo store in South Mumbai's Fort area after eight years. Netizens spotted a notice posted on the doors of the 110-year-old, five-storey outlet and shared it on social media.

According to social media posts, Zara closed its flagship Mumbai store on February 24. The 51,300-square-foot, five-storey store was located in the 110-year-old Ismail Building in South Mumbai's Fort area.

Why Did Zara Close its Biggest Store in India?

According to the notice posted on the door, no reason was given for the closure. It simply 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.”

Notably, according to a report by the Times of India, Inditex Trent shelled out an exorbitant ₹30 crore rent annually in 2017, with a five-year lock-in period. It was, at the time, the largest lease transaction by a fashion brand.

Zara's Largest Store in Mumbai

Opened in 2017 within a heritage-listed building at Hatuma Chowk Square (Fort area) in South Mumbai, the store was the Spanish fashion giant's largest in the country. It was also the high-street fashion brand's only independent store in the city, as its other outlets are in shopping malls.

A spokesperson told Mint in 2017 that the company is “not opening many stores” but larger stores in India and globally. This was notably three years before the COVID-19 pandemic.

Zara is owned by Inditex SA, the world’s largest fashion retailer, which has been in India since 2010 through a 65:35 joint venture (JV) with the Tata Group's Trent. Called Inditex Trent Retail India, the JV retails two brands, Zara and Massimo Dutti, in India.

At present, Zara has three outlets in India's financial capital and neighbouring Thane district. One store is in the suburbs, in Phoenix Market City (Kurla), one in Phoenix Palladium (Lower Parel), and one in Thane's Viviana Mall.