Bharti Realty in talks with Galeries Lafayette to open in India
Bharti Group business Bharti Realty is in talks with French luxury department store chain Galeries Lafayette about the possibility of opening its first store in India.
Galeries Lafayette, a bastion of Parisian retail, could open its first department store in India, TNN reported. Real estate business Bharti Realty is in talks with the French business about the possibility of opening at one of its retail development sites in India.
Bharti Realty has a large retail development site in Aerocity which it has on lease from GMR Group. The US-based luxury department store chain Saks Fifth Avenue had previously planned to open its first Indian location in Aerocity in partnership with Aditya Birla Fashion Retail but talks fell through and the previously designated site has been made into an office complex.
Bharti Realty has a 12 million square foot commercial development project in the Aerocity area as well as a mixed use development site in Gurugram on Golf Course Extension Road.
Galeries Lafayette is a family-owned business and its flagship store is located on Boulevard Haussmann in Paris, France. The business, which houses a wide array of international luxury fashion and cosmetics brands, is currently expanding swiftly in the Chinese market and plans to open 10 stores in the country by 2025.
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