The luxury market in India has one more partnership to boost its Indian presence. The Aditya Birla Fashion and Retail Ltd. (ABFRL), announced a partnership with Christian Louboutin, one of the world’s most famous shoe designers known for his high-end footwear and iconic red soles. This joint venture envisages the transfer of the current Indian business into a newly incorporated subsidiary of ABFRL where the partners will hold equal stake. With this partnership, ABFRL enters the high end luxury space in the Indian market.
Christian Louboutin established his business in the heart of Paris in 1991, first with a shoe collection for women followed by a men’s collection a few years later, both recognizable by the signature red lacquered sole. Today, Christian Louboutin is one of the leading names in global luxury, world famous for its signature red sole shoes. The company later diversified its business into leather goods and accessories, beauty and kids. The brand has established its retail presence in over 30 countries. It has had a presence in India since 2012. “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,” commented Alexis Mourot, Group CEO, Christian Louboutin.
According to Ashish Dikshit, this partnership reflects the company’s commitment to offering the very best in elegance and style to its discerning customers. “It also exemplifies our ambition to develop and shape the future of the luxury market in India,” says Ashish Dikshit, MD, ABFRL.
“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,” says Sathyajit Radhakrishnan, CEO, International Business, ABFRL.