A move that comes close on the heels of rivals Stockholm-based H&M and London-based Marks & Spencer launching their home wares in India last year
New Delhi: Inditex SA is in talks with Phoenix Mills Ltd to open a standalone Zara Home store in the upcoming Phoenix Mall of Asia in Bengaluru, a person familiar with the development said.
He said Mall of Asia has earmarked around 9,000 sq ft for Zara Home on the first floor of the upcoming shopping centre. He further said Zara Home is expected to open its store next year as the mall is scheduled to open in mid-2024.
An Inditex spokesperson in India did not respond to an email seeking comment.
IndiaRetailing had reported in November that Zara is planning to introduce its home products in India, a move that comes close on the heels of rivals Stockholm-based Hennes & Mauritz (H&M) and London-based Marks & Spencer launching their home wares in India last year.
IndiaRetailing had reported that Zara is already in talks with a few malls in New Delhi region for additional space in the range of 5,000 sq ft to accommodate Zara Home stores in those malls.
Zara Home is coming to India at a time when home improvement as a segment is growing rapidly with young and middle-class Indians buying hundreds of thousands of new apartments each year. The younger generations tend to spend a lot on their home decorations as per their tastes, creating large business opportunities for global brands including Ikea, H&M Home and Zara Home.
Last year, Sweden’s H&M introduced its home products as a store-in-store at its outlet in Ambience Mall, Vasant Kunj, New Delhi. The world’s second largest fashion retailer had also launched those products online through its portal hm.com and on Myntra.com in March.
Marks & Spencer had also launched its home and décor offerings in India in March in three of its stores in New Delhi, Bengaluru and Mumbai. Currently, the home products are available in several of M&S outlets and online through the company’s website in addition to Myntra.com.
Zara is operated in India through a 51:49 joint venture between Spain’s Inditex Group and Tata-owned Trent Ltd. There is another JV between the two groups for selling Massimo Dutti in India. Inditex Trent Retail India currently operates 21 stores in Delhi, Mumbai, Bengaluru, Pune, Surat, Jaipur, Chandigarh, Chennai, Hyderabad, Kolkata and Gurugram.
