The first two flagship stores will open in Delhi and Mumbai.
Indian fashion giant Birla Fashion and Retail (ABFRL) will bring the French luxury department store chain Galeries Lafayette to the country. The first two flagship stores will open in Delhi and Mumbai.
At the same time, ABFRL plans to launch a platform in India to sell clothes from the Galeries Lafayette range through online channels. The platform will feature products from more than 200 luxury brands.
"It is also a new illustration of our ambition to reach 20 stores aboard, with a primary focus on China, Asia and the Middle East by 2025," said Nicolas Houze, CEO of Galeries Lafayette and BHV Marias.
Galeries Lafayette in Mumbai is scheduled to open in 2024 and will cover approximately 90,000 sq.ft. The department store will be located in two historic buildings in the Fort district, the city's cultural and commercial district.
The Parisian chain's flagship department store in Delhi of about 65,000 sq.ft. will open in 2025. The space will be located on the premises of DLF Emporio luxury shopping center.
Experts say ABFRL's partnership with Galeries Lafayette is a clear indication of India's importance as a global luxury market and future growth engine for luxury brands.
The Indian conglomerate reported record revenue growth of 50% to $374 million in October. Compared to pre-recession figures in 2019, the company's sales increased by more than a third.
ABFRL now operates 3,593 retail stores and 6,491 department store locations nationwide. The company's brand portfolio includes Pantaloons, Louis Philippe, Van Heusen, Allen Solly and Peter England. The fashion giant also develops global brands Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21 and American Eagle.