ABFRL ties up with French co Galeries Lafayette – Times of India

MUMBAI: Aditya Birla Fashion and Retail (ABFRL) has entered into a strategic partnership with Europe’s top store chain – the Paris-based Galeries Lafayette – to open luxury department stores and a dedicated e-commerce platform in India. Galeries Lafayette is known for its flagship location at Boulevard Haussmann in Paris.
The flagship stores in Mumbai and Delhi will bring more than 200 luxury and designer brands under one roof, with a 90,000sqft flagship store in Mumbai expected to be operational by 2024. The 65,000sqft store in Delhi, expected to be operational in 2025, will be at DLF Emporio, one of India’s largest luxury malls. Industry estimates indicate that India’s luxury goods market will be worth $8.5 billion in 2022, against $6 billion in 2021. It is expected to grow annually by 8% (CAGR 2021-2025).
ABFRL MD Ashish Dikshit said, “The partnership with Galeries Lafayette is an endorsement of India’s significance as a global luxury market and a future engine of growth for luxury brands.” Galeries Lafayette & BHV Marais CEO Nicolas Houze said, “It is a new illustration of our ambition to reach 20 stores abroad, with a primary focus on China, Asia and Middle East, by 2025.”
Global brands have been making a beeline into India though strategic tieups. In August this year, Reliance Brands signed a strategic deal with global luxury brand Balenciaga. Reliance Brands’s current portfolio of partnerships includes Armani Exchange, Bally, Bottega Veneta, Burberry, Clarks, Hugo Boss, Versace and Michael Kors.
ABFRL’s international brands portfolio includes The Collective, India’s largest multi-brand retailer of international brands, and has long-term exclusive partnerships with select brands such as Ralph Lauren, Hackett London, Simon Carter, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok.

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