Aditya Birla Fashion and Retail Ltd (ABFRL) on Thursday announced a strategic partnership with leading French department store player Galeries Lafayette, to open luxury department stores and a dedicated e-commerce platform in India.
Their flagship stores in Mumbai and Delhi will have more than 200 luxury and designer brands under one roof, said a joint statement.
The 90,000 square feet flagship store in Mumbai is expected to be operational by 2024. While 65,000 square feet of store in Delhi is expected to be operational in 2025, it added.
"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," ABFRL Managing Director Ashish Dikshit said.
Galeries Lafayette, which has been in fashion and experienced marketing for 125 years, has a network of 65 stores in France and abroad. The Galeries Lafayette brand covers a range of segments taking in fashion and accessories, decoration, food and catering.
"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 the Middle East by 2025," Nicolas Houzé, CEO, Galeries Lafayette and BHV Marais said.
ABFRL, part of USD 60 billion global conglomerate, Aditya Birla Group is India's largest multi-brand retailer of International global brands such as Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok.