mumbai aditya birla fashion and retail abfrl has entered into a strategic partnership with europes top store chain the parisbased galeries lafayette to open luxury department stores and a dedicated ecommerce platform in india galeries lafayette is known for its flagship location at boulevard haussmann in paristhe flagship stores in mumbai and delhi will bring more than 200 luxury and designer brands under one roof with a 90000sqft flagship store in mumbai expected to be operational by 2024 the 65000sqft store in delhi expected to be operational in 2025 will be at dlf emporio one of indias largest luxury malls industry estimates indicate that indias luxury goods market will be worth 85 billion in 2022 against 6 billion in 2021 it is expected to grow annually by 8 cagr 20212025 abfrl md ashish dikshit said the partnership with galeries lafayette is an endorsement of indias significance as a global luxury market and a future engine of growth for luxury brands galeries lafayette bhv marais ceo nicolas houze said it is a new illustration of our ambition to reach 20 stores abroad with a primary focus on china asia and middle east by 2025 global brands have been making a beeline into india though strategic tieups in august this year reliance brands signed a strategic deal with global luxury brand balenciaga reliance brandss current portfolio of partnerships includes armani exchange bally bottega veneta burberry clarks hugo boss versace and michael kors abfrls international brands portfolio includes the collective indias largest multibrand retailer of international brands and has longterm exclusive partnerships with select brands such as ralph lauren hackett london simon carter ted baker fred perry forever 21 american eagle and reebok