admin Luxury footwear brand Christian Louboutin has established a new joint venture with Indian firm Aditya Birla Fashion and Retail Limited (ABFRL), which will see both partners hold an equal stake.
As part of the deal, the brand’s current Indian business will be transferred into a newly incorporated subsidiary of ABFRL.
In a release, Alexis Mourot, Christian Louboutin’s group CEO, said that the duo would work to develop the business in the region, calling the market “extremely important for the brand”.
Managing director of ABFRL, Ashish Dikshit, further commented: “We are thrilled to announce our strategic alliance with Christian Louboutin, a true icon in luxury footwear.
“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.”
The move comes during Christian Louboutin’s 30th anniversary year of the designer’s famous red sole, and builds on a number of expansions made within the company in recent years, including the introduction of kids and pets categories both launched in 2022.
Optimism was also seen in the statement from CEO of International Business at ABFRL, Sathyajit Radhakrishnan, who said: “We are excited to welcome Christian Louboutin into the ABFRL family and (to build) 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.”
