Aditya Birla Fashion and Retail Limited (ABFRL) has partnered with ‘Galeries Lafayette’ a French luxury department store located at Boulevard Haussmann in Paris. The partnership will help Aditya Birla Group open luxury outlets in India introducing more than 200 luxury and designer brands together in Mumbai and in Delhi.
The 90,000 square feet flagship store in Mumbai is set to start functioning by 2024, and the store in Delhi will be operational by 2025 and is 65,000 square feet at DLF Emporio. Firm Virgile and Partners has been hired to design the flagship store. They have managed several projects and designed stores globally. Pike Preston is appointed as the advisor on record for this partnership. ‘Galeries Lafayette’s’ focus is on design, and proposition in regard to entertainment and technology that will be brought to life via pop-ups, installations, and innovations around events and food & beverage experiences. These stores will be capable of providing a 360-degree shopping (e-commerce) experience helping customers to get exposure to a completely unique and different way of shopping. Meeting the customers’ needs with a network that consists of personal stylists connected to the shopping stores will be given prime importance.
Aditya Birla Fashion and Retail Limited last traded higher at the BSE at Rs 316.15 when compared to the previous close which was Rs 312.55. The number of shares traded during the day was 70226 in over 1577 trades.
Ashish Dixit MD of Aditya Birla Fashion and Retail Limited commented on the partnership, by saying “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. 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. Aditya Birla Fashion and Retail’s deep and nuanced understanding of the Indian landscape on the back of our portfolio of designer brands, combined with Galeries Lafayette’s global experience, will enable us to create a world-class destination for Indian consumers and global luxury brands.”
Nicole Houze CEO of Galeries Lafaytte 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 the Middle East by 2025. We are very pleased to be working with Aditya Birla Group on this project, with whom we share the same values and vision on retail, and are convinced that they are the right partner to enable us to meet the expectations of Indian customers”.
