Rhythm House Mumbai bought by Bhaane group

[Nitin K]

Let's hope the past musical glory of Rhythm House gets revived and does not get converted into an apparel store.

Sonam Kapoor buys Mumbai’s iconic music store for $5.7 million

Bhaane Group, owned by Sonam Kapoor and Anand Ahuja, is purchasing iconic Mumbai music store Rhythm House. The store, closed in 2018 after its previous owner defaulted on loans, is being bought for 478.4 million rupees. Bhaane plans to expand its retail presence. Rhythm House was known for...

m.economictimes.com

 

[keith_correa]

If they are going to go back to the music store format that it was, IMO, it would be a fools venture since it would not make sound (no pun intended) business sense to do so. Nostalgic appeal is all very good for the mind but not for business. It is prime real estate and a mass consumer retail store makes more sense.

 

[prem]

The Bhaane group operates Nike stores in India. I won’t be surprised if they make it their flagship store in Mumbai.

 

[arj]

Anand ahuja has several successful retail focused businesses
This was owned by Nirav modi so am sure he acquired it at a good price.Rhythm House is still viable as a brand and how he leverages the brand will be something iinteresting given his background and past success.

 

[sachinchavan 15865]

Hope this leads to restoring this iconic music store to its former glory. With the return of LPs, it may not be such a bad move. Plus they can sell music and movie merchandise/ memorabilia too. Especially given that the buyers are into apparel, there could be a synergy here.

 

[IndianEars]

Personally, I speculate a ZERO possibility of this location reopening as a music store.

It is now Prime Property in Mumbai's clothes Boutique business.

I speculate it will be a garment store... The owners make swimwear and other garments.

The property was sold by Rhythm House to rogue jeweller Nirav Modi and the property was attached by the govt, as one of his several properties that were attached.

This sale is by the Govt.

 

[Nitin K]

Hope this leads to restoring this iconic music store to its former glory. With the return of LPs, it may not be such a bad move. Plus they can sell music and movie merchandise/ memorabilia too. Especially given that the buyers are into apparel, there could be a synergy here.

We can only hope Sachin. But in all probability it will land up being a clothing store as that is more profitable these days.
Also streaming has further minimised the purchase of physical media like vinyls and cd's which is a very niche market now.

 

[arj]

Yeah..and the history of Anand Ahuja is in clothes and since it is Prime property, that is the most probable way.

 

[Hiten]

hee hee . . . worry not lads,
if Mr. Nirav can lend me money I can buy shop right beside Rhythm House . . . It will be named 'Music Bank' . . . 'Folk songs of Machu Picchu' NM Vinyl for Rs. 1,999/-. . . handsome legit profit . . . no need to run away from beloved country.
Regards