Aditya Birla Fashion and Retail Limited (ABFRL) on Thursday announced that it has entered into a strategic partnership with Galeries Lafayette to open luxury department stores in Mumbai and Delhi. They will also be opening a dedicated e-commerce platform in India.
Galeries Lafayette is known for its luxury store at Boulevard Haussmann in Paris. The flagship stores in India will bring more than 200 luxury and designer brands under one roof.
“This is a coming-of-age moment for Indian luxury. India is now home to a generation of young and affluent consumers with global exposure, who are willing to spend on the finer things in life. This is visible in the boom and dynamism of the luxury market. The partnership with Galeries Lafayette is a ringing endorsement of India’s significance as a global luxury market and a future engine of growth for luxury brands,” Ashish Dikshit, Managing Director, Aditya Birla Fashion and Retail Limited said.
Its 90,000 square feet flagship store in Mumbai is expected to be operational by 2024 while the 65,000 square feet store in Delhi is expected to be operational in 2025.
“We are proud to expand our international footprint in such a prestigious and refined market as India, where we believe our brand can benefit from a strong potential. It is also a new illustration of our ambition to reach 20 stores abroad, with a primary focus on China, Asia and Middle East by 2025,” Nicolas Houzé, CEO, Galeries Lafayette and BHV Marais said.