French luxury giant Galeries Lafayette to open first India store

French luxury retailer Galeries Lafayette said Wednesday it will open its first store in India, aiming to tap into the country's rapidly expanding market for high-end goods.

The flagship store will feature 250 luxury and designer brands and is scheduled to open in early November. The launch in the world's fifth largest economy follows a partnership with the fashion arm of the Aditya Birla Group, a major Indian conglomerate. The two companies signed an agreement three years ago to establish the Galeries Lafayette brand in India.