Galeries Lafayette announced Thursday the signing of a partnership with the Indian group Aditya Birla to develop its presence in India, where the French group plans to open two stores in 2024 and 2025.
In order to “follow (its) international deployment strategy”, Galeries Lafayette has entered into an “exclusive partnership” with Aditya Birla Fashion and Retail Limited (ABFRL), the first Indian fashion group to reach the 1,000-million mark. million dollars in revenue and operating a network of 3,500 stores.
This partnership includes “the launch of a dedicated e-commerce platform” but also “the opening of two stores in Mumbai and New Delhi, the two main capitals of the country,” the group details in a press release.
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On the set of Good Morning Business this Thursday, Nicolas Houzé, The CEO of Galeries Lafayette and BHV Marais explains the ambitions of this launch.
The first 8,000 m2 store, located in the “commercial and cultural heart of Mumbai”, will open its doors in 2024 to “a young clientele very sensitive to new luxury trends”.
20 stores abroad by 2025
“This opening will be closely followed by the one in New Delhi, with a 5,500m2 department store located in the heart of DLF Emporio, the city’s most famous premium shopping mall,” said the group, which employs 11,000 people. It is planned for 2025, a Galeries Lafayette spokeswoman told AFP.
“We are proud to extend our international presence to the heart of a market as prestigious and refined as India, where we believe Galeries Lafayette can benefit from strong growth potential,” said Galeries Lafayette Lafayette CEO Nicolas Houzé, quoted in the report. Press release
These openings in India illustrate Galeries Lafayette’s desire to “accelerate (its) international deployment to include around twenty stores by 2025, more particularly located in Asia and the Middle East”, underlines Nicolas Houzé.
The group, which has 57 stores in France, including 38 franchises, is already present in Berlin, Beijing, Jakarta, Dubai, Doha, Shanghai and Luxembourg. It is expected to open three more stores in China in 2023, bringing the total number of stores abroad to ten, pending openings in India.
Source: BFM TV
