Aditya Birla Fashion and Retail Limited (ABFRL) has announced a partnership with Paris-based Christian Louboutin, one of the world’s most famous shoe designers.
According to the press release, the joint venture “envisages the transfer of the current Indian business into a newly incorporated subsidiary of ABFRL where the partners will hold equal stake”. The release doesn't offer any details in terms of retail or online presence.
“We are excited to partner with ABFRL’s team and look forward to working with them to manage and develop the business in India which is an extremely important market for us,” said Alexis Mourot, the group chief executive officer of Christian Louboutin. Since starting in 1991, Christian Louboutin, famous for its signature red sole shoes, has successfully diversified its business into men’s footwear, leather goods and accessories, beauty and kids. The brand has established its retail presence in over 30 countries.
Talking about the collaboration, Ashish Dikshit, the managing director of Aditya Birla Fashion and Retail Ltd, said, in the press release, “We are thrilled to announce our strategic alliance with Christian Louboutin… . This partnership reflects our commitment to offering our discerning customers the very best in elegance and style. It also exemplifies our ambition to develop and shape the future of the luxury market in India.”
Last year, ABFRL had made the announcement to bring luxury department store chain Galeries Lafayette to India via large stores and a dedicated e-commerce platform.