Share Market Live

NSE

India will soon get its first luxury department store courtesy Aditya Birla Fashion.

The retail arm of the Aditya Birla Group signed a strategic partnership with Galeries Lafayette, a France-based leading retail store chain.

Through this strategic agreement, the companies will open luxury department stores in Mumbai and Delhi, as well as operate a dedicated e-commerce platform in India.

The high-end fashion stores will see more than 200 luxury and designer brands. The 90,000 square feet flagship store in Mumbai, which will be located in the Fort area, is expected to open its doors by 2024 while the 65,000 square feet store in Delhi will open at DLF Emporio, one of India’s largest luxury malls.

The partnership aims at creating a world-class destination for Indian consumers and global luxury brands.

This also marks the expansion of Galeries Lafayette's international footprint and it is hopeful of benefitting from a refined market like India.

ABFRL’s brand partners and portfolio includes luxury fashion labels like Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, ‘Sabyasachi’, ‘Tarun Tahiliani’,‘Shantnu & Nikhil’, ‘House of Masaba’, Louis Philippe, Van Heusen, Allen Solly and Peter England.

Shares of Aditya Birla Fashion and Retail are trading 0.9 percent lower at Rs 313.85.

First Published:Nov 17, 2022 2:16 PM IST