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Business News/ Companies / News/  Aditya Birla Fashion forms JV with Christian Louboutin for India market
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Aditya Birla Fashion forms JV with Christian Louboutin for India market

This collaboration envisages the transfer of the current Indian business into a newly incorporated subsidiary of Aditya Birla Fashion where the partners will hold equal stake

Aditya Birla Fashion and Retail Ashish DikshitPremium
Aditya Birla Fashion and Retail Ashish Dikshit

New Delhi: Aditya Birla Fashion and Retail Limited (ABFRL), on Wednesday announced a joint venture with high-end Parisian footwear brand Christian Louboutin, strengthening its play in India’s small but growing luxury goods market.

This collaboration envisages the transfer of the current Indian business into a newly incorporated subsidiary of ABFRL where the partners will hold equal stake.

The move follows ABFRL’s 2022 announcement to bring luxury department store chain Galeries Lafayette to India via large stores and a dedicated e-commerce platform.

The joint venture will help ABFRL develop and shape the future of the luxury market in India, said Ashish Dikshit, managing director, Aditya Birla Fashion and Retail. "This partnership reflects our commitment to offering our discerning customers the very best in elegance and style," he added.

Alexis Mourot, Christian Louboutin’s Group CEO, said India is an extremely important market for the brand.

Founded in 1991 in Paris, Christian Louboutin is among the leading names in global luxury and popular for its signature red sole shoes. The company has diversified its business into men’s footwear, leather goods & accessories, beauty and kids. It is present in over 30 countries.

Meanwhile, luxury brands are chasing growth in India, as affluent shoppers and local partners with deep pockets present a huge opportunity to expand in the market.

Last year, Reliance Brands Ltd signed a deal to bring the luxury couture brand Balenciaga to India. Additionally, last month Reliance Industries Limited (RIL) opened its high-end mall Jio World Plaza (JWP) giving Mumbai a new destination for high-end shopping. The mall will feature luxury brands such as Balenciaga, Tory Burch, YSL, and Versace, which are capitalizing on India's growing base of wealthy shoppers.

To underscore the growing importance of India, ultra-premium brands, already present in the market, are launching India-specific collections to woo local shoppers.

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ABOUT THE AUTHOR
Suneera Tandon
Suneera Tandon is a New Delhi based reporter covering consumer goods for Mint. Suneera reports on fast moving consumer goods makers, retailers as well as other consumer-facing businesses such as restaurants and malls. She is deeply interested in what consumers across urban and rural India buy, wear and eat. Suneera holds a masters degree in English Literature from the University of Delhi.
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Published: 06 Dec 2023, 01:40 PM IST
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