Aditya Birla Fashion and Retail has received approval to incorporate a new company in partnership with Christian Louboutin SAS (CL) and invest up to Rs 10 crore in the same. Upon incorporation, the company and CL will hold equal shareholding in the new company and the current business of CL in India will be transferred through a business/asset transfer. The Board of Directors of the Company, at its meeting held on August 4, 2023 has accorded its in-principle approval to the same.
Aditya Birla Fashion and Retail is engaged in providing branded fashion apparels and accessories, and the retail sale of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company's brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.
