Sonam-Anand’s Bhaane Group acquire Rhythm House
Sonam Kapoor and hubby Anand Ahuja who own Bhaane Group have acquired Mumbai’s renowned music store, Rhythm House, for whopping
Rs 478.4 million. The 3,600-square-foot store, which shut doors in 2018, had a rich legacy.
Nestled in South Mumbai, Rhythm House pulled shutters following default on sunstantial loans by the former owner Nirav Modi. The sale of the property was overseen by a resolution professional appointed by India’s bankruptcy court, who confirmed the deal to Bloomberg.
According to Bhaane Group spokesperson which designs and manufactures clothing, confirmed the purchase but declined to disclose the exact value of the transaction.
The report added that the acquisition of Rhythm House marks the end of an era for the generations of music lovers who frequented the store for vinyl records, cassettes, and compact discs.
Established in the 1940s, the store had a rich legacy, hosting luminaries such as Pandit Ravi Shankar and Ian Anderson of Jethro Tull, along with various Bollywood stars.
News Edit KV Raman
