In a strategic move to tap into the burgeoning demand for high-end fashion in India, Aditya Birla Fashion and Retail Ltd. (ABFRL) has announced a partnership with renowned French fashion designer Christian Louboutin.
The collaboration will witness the establishment of a new subsidiary of ABFRL, with both parties holding equal stakes, as the conglomerate seeks to bolster its portfolio of luxury brands.
Christian Louboutin, celebrated for its iconic red-soled footwear, diversified into men’s footwear, leather goods, accessories, beauty, and children’s wear since its inception in Paris in 1991.
The brand now boasts a global presence in over 30 countries.
“This partnership reflects our commitment to offering our discerning customers the very best in elegance and style,” Ashish Dikshit, Managing Director of ABFRL told the press.
“It also exemplifies our ambition to develop and shape the future of the luxury market in India,” he added.
India, marked by a growing population of high-net-worth individuals, has become an attractive market for international department stores.
According to the Knight Frank Wealth report for 2022, the number of high-net-worth individuals is projected to grow by 77% between 2021 and 2026.
Christian Louboutin’s Group Chief Executive Officer, Alexis Mourot, emphasised the significance of India as an extremely important market for the brand.
In the competitive landscape of luxury fashion in India, conglomerates like Reliance Industries and Aditya Birla Group are striving to meet the surging demand.
ABFRL has previously acquired majority stakes in prominent Indian luxury designer brands such as Sabyasachi, Shantanu & Nikhil, and House of Masaba.
This recent collaboration follows ABFRL’s move to introduce luxury department store chain Galeries Lafayette to India in 2022.
The conglomerate also operates The Collective, housing over 100 international brands, and has exclusive partnerships with global fashion giants such as Versace, Michael Kors, Armani, Hackett London, Ted Baker, Ralph Lauren, and more.
“We are excited to welcome Christian Louboutin into the ABFRL family and build a strong platform for the brand in India,” stated Satyajit Radhakrishnan, CEO of International Business at ABFRL
Aditya Birla Fashion and Retail, with a revenue of Rs. 12,418 crore and a vast retail space spanning 10.8 million square feet, holds a dominant position in India’s fashion industry.
The conglomerate operates a network of 3,977 stores across approximately 33,535 multi-brand outlets, with 6,723 points of sale in department stores nationwide, as of March 31, 2023.
