ABFRL.NSE Aditya Birla Fashion & Retail Ltd.

Aditya Birla Fashion and Retail (ABFRL) has joined forces with Christian Louboutin SAS (CL SAS) to establish CLI Footwear and Accessories. The Ministry of Corporate Affairs in India has granted the Certificate of Incorporation on 12 September 2023.CLI Footwear and Accessories, with an authorized capital of Rs 10,00,00,000 and a paid-up capital of Rs 1,00,00,000, is a 50%-50% partnership between Aditya Birla Fashion and Retail and CL SAS. The newly formed company will focus on the distribution and sale of CL SASs luxury products in India.This strategic collaboration allows Aditya Birla Fashion and Retail to expand its luxury brand portfolio and venture into the footwear market. By incorporating CLI, the company aims to complement its existing fashion apparel range and cater to a broader customer base. This move is expected to strengthen its position in the competitive luxury market segment.CLI Footwear and Accessories will offer discerning customers a wide range of luxury footwear and accessories. ABFRL is engaged in the business of manufacturing and retailing of branded apparels and runs a chain of apparels and accessories retail stores in India. As on 30 June 2023, the company has a network of 4,008 stores across approximately 33,874 multi-brand outlets with 6,837 point of sales in department stores across India. ABFRL reported net loss of Rs 141.43 crore during the quarter as compared with net profit of Rs 97.46 crore posted in corresponding quarter last year. Net sales jumped 11.18% YoY to Rs 3,196.06 crore in Q1 FY24.