Sonam Kapoor-Anand Ahuja Buy Nirav Modi’s Music Store For Several Crores

NEW DELHI – The Bhaane Group, owned by actress Sonam Kapoor and her husband Anand Ahuja, has acquired Mumbai’s iconic music retail store Rhythm House for Rs 47.84 crore.

Bhaane is a fashion label under Shahi Exports Pvt., one of India’s largest apparel makers, owned by Anand Ahuja’s father, Harish Ahuja. The company supplies international brands like Uniqlo, Decathlon, and H&M, and its retail division operates Converse and Nike outlets in India. The acquisition of Rhythm House is part of Bhaane’s plans to expand its retail footprint in the area.

The 3,600-square-foot Rhythm House, which closed in 2018 after its previous owner, Nirav Modi, defaulted on billions of dollars in bank loans, was sold following a bankruptcy court ruling.

Rhythm House, which was founded in the 1940s and frequented by Bollywood celebrities, along with musicians like Jethro Tull’s Ian Anderson and Pandit Ravi Shankar, lost its relevance in the digital era as music piracy and streaming platforms gained popularity.