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Aditya Birla Fashion & Retail Ltd (ABFRL) has announced a joint venture with Christian Louboutin, a renowned high-end footwear designer, for the Indian market. In this partnership, Christian Louboutin will transfer its existing Indian business into a subsidiary of ABFRL, with both partners holding equal stakes.
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,” commented Ashish Dikshit, MD, Aditya Birla Fashion and Retail.
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Tcns Clothing: "The acquisition is in line with the company's objective of building a comprehensive fashion portfolio across consumer segments and price points," according to ABFRL.