Nitori Opens Second India Store in Mumbai at 20 Lakh Monthly Rent

Japanese furniture retailer Nitori opens its second Indian store at Mumbai’s Sky City Mall, leasing 5,371 sq. ft. for ₹20 lakh monthly rent under a five-year agreement with Oberoi Realty.

Japanese home furniture retailer Nitori India opens its second store in the country at Sky City Mall in Borivali, Mumbai, marking another step in its international expansion. The retailer leases approximately 5,371 square feet of retail space for a monthly rent of ₹20 lakh, according to property registration documents accessed through Propstack.

The five-year lease agreement is executed with Incline Realty Private Limited, part of Oberoi Realty. The leave and licence agreement begins on July 2, 2026, and is registered on July 15, 2026. The premises comprise four units on the mall’s lower-ground floor, with a chargeable area of approximately 5,371 square feet, or 498.98 square metres. The monthly rental translates to around ₹372 per square foot.

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Under the agreement, the rent increases by 15% after the first three years, rising from ₹20 lakh to ₹23 lakh per month for the remaining 24 months. The security deposit stands at ₹2.40 crore for the initial 36 months and increases to ₹2.76 crore for the final two years.

Nitori, known for furniture, home décor and household essentials, focuses on combining design, functionality and value. The company views India as an important market and aims to introduce its home furnishing products to a wider consumer base. Its first Indian store opened at R City Mall in Mumbai approximately a year earlier.

Toshiyuki Shirai, Chief Operating Officer, Representative Director and President of Nitori, says the second store marks an important milestone in the company’s Indian journey. He highlights the potential to reach more consumers with products designed to make everyday living more comfortable and enjoyable.

Tanu Prasad, CEO – Malls at Oberoi Realty, says Nitori strengthens Sky City Mall’s home and lifestyle retail offering. She notes that the brand’s Japanese design philosophy, functional products and accessible pricing provide consumers with additional choices as they prepare to refresh their homes ahead of the festive season.

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Sky City Mall opens in March 2025 as Oberoi Realty’s second mall in Mumbai, following Oberoi Mall in Goregaon East. With a gross leasable area of approximately 12.07 lakh square feet, the mall forms part of the developer’s 25-acre mixed-use Sky City project.

The arrival of Nitori adds to the mall’s growing retail portfolio, which also includes fashion and entertainment brands. The expansion reflects continued interest from international retailers in India’s organised retail market and established shopping destinations across Mumbai.