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Aditya Birla Fashion and Retail (ABFRL) has entered a strategic partnership with Galeries Lafayette to open luxury department stores and a dedicated e-commerce platform in India.
The flagship stores in Mumbai and Delhi will bring more than 200 luxury and designer brands under one roof, said ABFRL in a press release.
Galeries Lafayette is renowned globally for its flagship location at Boulevard Haussmann in Paris. It will open a 90,000 square feet flagship store in Mumbai by 2024. The store will be housed in two historic buildings at the heritage precinct of Mumbai Fort.
ABFRL will open Galeries Lafayette's second store in Delhi's DLF Emporio mall. This store will span across 65,000 square feet and is expected to be operational in 2025.
“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,” said Ashish Dikshit, managing director at ABFRL.
“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,” he said.
“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. We are very pleased to be working with Aditya Birla Group on this project,” said Nicolas Houzé, chief executive officer of Galeries Lafayette and BHV Marais in the release.
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First Published: Thu, November 17 2022. 14:24 IST
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