Mukesh Ambani recently entered the premium luxury mall space with the grand opening of the Jio World Plaza in Mumbai. Around 30 minutes from Ambani’s Jio World Plaza stands the Phoenix Palladium, India's first premium luxury retail space, in Lower Parel. The luxury mall is one of the flagship establishments of Phoenix Mills, a listed real estate giant with a market cap of over Rs 36,000 crore. Taking over the struggling family business in 1994, Ruia redeveloped the Phoenix Mills into Mumbai’s most sought after retail space. Phoenix Mills today runs 8 malls across 6 cities in the country, Mumbai, Ahmedabad, Indore, Lucknow, Chennai, Pune and Bengaluru.

Source: dna November 13, 2023 16:49 UTC