Inside India’s Luxury Boom | Ashish Dikshit & Nicolas Houzé On Galeries Lafayette’s India Debut

In this conversation with Riddhima Bhatnagar of Business Today, Ashish Dikshit, Managing Director of Aditya Birla Fashion and Retail (ABFRL) and Nicolas Houzé, Executive Chairman of Galeries Lafayette Group, talk about their landmark partnership that brings the iconic French luxury department store to India for the very first time.

From Mumbai to Delhi and soon to more cities  the collaboration promises to redefine the way Indians experience luxury. The leaders discuss how this partnership was nearly a decade in the making, the insights from years of consumer research, and the growing appetite for aspirational, world-class retail experiences in India.

They also share how Indian consumers’ relationship with luxury has evolved from distant and exclusive to confident and expressive  and why this is the right moment for Galeries Lafayette to enter the market.

With over 250 brands, nearly 70% new to India, the first flagship store in Mumbai aims to become a landmark destination for fashion, beauty, and lifestyle.

As both leaders emphasize, India’s luxury market is poised to grow at 15–20% annually, outpacing GDP growth and tripling in size over the next decade