Zara Closes Iconic Mumbai Flagship Store Over High Rental Costs

The Spanish fashion brand shut its 51,300-square-foot South Mumbai location after eight years, citing unsustainable ₹3 crore monthly rent.

Zara's flagship store in Mumbai's historic Ismail Building closed on February 23, 2025, after operating for eight years.
The store's high rental costs, escalating to ₹36 crore annually, made the location financially unviable despite its prime spot at Flora Fountain.
Opened in 2017, the store was Zara's largest in India and underwent a two-year restoration of the 119-year-old Edwardian Neo-Classical building.
Purple Style Labs, which owns Pernia’s Pop-Up Shop, has leased the space for ₹206 crore over five years and plans to begin operations in mid-2025.
Zara continues to operate multiple stores in Mumbai, including locations in Palladium Mall, Phoenix Market City, and Viviana Mall, as well as its online platform.