Luxury accessories brand Christian Louboutin has formed a joint venture with Aditya Birla Fashion and Retail Limited (ABFRL), which will see the transfer of the current Indian business into a newly incorporated subsidiary of ABFRL, where the partners will hold equal stake.
Financial terms of the joint venture were not disclosed.
“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, Christian Louboutin’s Group CEO.
The move follows ABFRL’s announcement in 2022 to bring luxury department store chain Galeries Lafayette to India via large stores and a dedicated e-commerce platform.
“We are thrilled to announce our strategic alliance with Christian Louboutin, a true icon in luxury footwear,” said Ashish Dikshit, managing director, Aditya Birla Fashion and Retail Limited.
“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.”
Founded in 1991 in Paris by namesake designer Christian Louboutin, the footwear brand is known for its signature red sole shoes. Since its inception, Louboutin has diversified its business into men’s footwear, leather goods and accessories, beauty and kids, with a retail presence in over 30 countries.
“We are excited to welcome Christian Louboutin into the ABFRL family and building a strong platform for the brand in India. The brand’s distinctive style and craftsmanship appeals to a discerning Indian audience that is growing rapidly,” said Sathyajit Radhakrishnan, CEO of international business, Aditya Birla Fashion and Retail Limited.
ABFRL is part of Indian conglomerate, The Aditya Birla Group. The company’s portfolio includes Louis Philippe, Van Heusen, Allen Solly, Peter England, and Pantaloons, as well as long term exclusive partnerships with international brands Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok and Galeries Lafayette.
Today, it boasts a network of 3,977 stores across approximately 33,535 multi-brand outlets with 6,723 point of sales in department stores across India.