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As per media reports, ABFRL and Galeries Lafayette have entered into a partnership to open stores of the French luxury retailer in India in the next two to three years. As per the deal, the Indian firm would open two flagship stores - one in Mumbai by 2024 and another in New Delhi a year later - housing over 200 luxury and designer brands. It will also launch an e-commerce platform
ABFRL has been on a shopping spree and purchased stakes in several designer and ethnic wear brands (Nikhil and Shantanu, House of Massaba Lifestyle, Tarun Tahiliani and Sabyasachi). The partnership with Galeries Lafayette will enable ABFRL enhance its presence in high end luxury market, which would provide thrust to its growth ambitions and enable it to get a foothold in a fast growing market and compete with other large retailers who have been increasing their presence in the branded luxury goods market
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