A global furniture brand finds its Mumbai address
Japanese home-furnishing brand Nitori has opened its second store in India at Sky City Mall in Borivali, taking nearly 5,371 sq ft on the mall’s lower ground floor for ₹20 lakh a month. The Mumbai store follows the company’s first India outlet at R City Mall and signals its intent to build a stronger presence in one of the world’s fastest-growing consumer markets.
The five-year leave-and-licence agreement, signed with Incline Realty Private Limited, began on July 2, 2026, and was registered on July 15, according to property documents accessed through Propstack. The space covers four retail units, with a chargeable area of about 5,371 sq ft. Nitori will pay roughly ₹372 per sq ft each month, with the rent set to rise 15% after three years—from ₹20 lakh to ₹23 lakh per month for the remaining term.
The company has also committed a security deposit of ₹2.40 crore for the first 36 months. This will increase to ₹2.76 crore during the final two years of the lease, reflecting the longer-term nature of its retail commitment at the mall.
Key Highlights
Nitori India has opened its second India store at Sky City Mall, Borivali, after its first outlet at R City Mall.
The company has leased about 5,371 sq ft on the mall’s lower ground floor for ₹20 lakh per month.
The five-year lease works out to nearly ₹372 per sq ft, with rent rising 15% after three years.
Nitori’s security deposit will increase from ₹2.40 crore to ₹2.76 crore in the final two years.
What Nitori’s India expansion means
Nitori, often described as Japan’s answer to global value-led home-furnishing brands, is known for furniture, interior products, home décor and everyday household essentials. Its India entry forms part of a wider international expansion strategy, with the company looking to deepen its footprint across Asian markets.
Confirming the opening, Toshiyuki Shirai, COO, Representative Director and President, Nitori, said: “India is an important market for Nitori, and we see significant potential to bring our design, functionality and value to more customers across the country.”
Oberoi Realty also welcomed the development. Tanu Prasad, CEO–Malls, Oberoi Realty, said: “Nitori’s Japanese design philosophy, functional approach and accessible pricing add a new dimension to Sky City Mall’s home and lifestyle offering. With the festive season around the corner, the timing could not be better.”
For shoppers, the new store brings Japanese design sensibilities; clean lines, practical storage, affordable home essentials and functional furniture closer to home. For Borivali’s retail market, it reinforces a shift: the suburb is no longer being viewed only as a residential catchment, but as a destination capable of drawing international lifestyle, technology and entertainment brands.
Borivali’s retail pull strengthens
Nitori’s arrival adds another global name to Sky City Mall’s growing brand mix. Earlier this year, Italian fashion label OVS leased more than 11,000 sq ft for around ₹28 crore over five years, or 10% of store revenue, whichever is higher. Apple India had earlier taken 12,616 sq ft in Borivali for ₹17.35 lakh a month, while PVR INOX committed to 43,534 sq ft on a 15-year lease for ₹91.42 lakh per month or a 20% revenue share, whichever is higher.
Sky City Mall, which opened in March 2025, is Oberoi Realty’s second mall in Mumbai after Oberoi Mall in Goregaon East. It forms part of the developer’s 25-acre mixed-use Sky City development and offers a gross leasable area of about 12.07 lakh sq ft.
With Nitori joining the line-up, Sky City Mall is steadily positioning itself as a destination for premium and value-led retail. For Borivali, the message is clear: global brands are increasingly willing to commit long-term space in the suburb, provided the location offers strong footfalls, a mixed-use catchment and a credible retail environment.
