Aditya Birla Fashion and Retail Ltd forms JV in partnership with Christian Louboutin SAS

Aditya Birla Fashion and Retail Limited has incorporated a new company viz. CLI Footwear and Accessories Private Limited (CIN: U47713MH2023PTC410299) in partnership with Christian Louboutin SAS ("CL SAS"). The Ministry of Corporate Affairs, Government of India has issued the Certificate of Incorporation on September 12, 2023.

CLI is a 50%-50% partnership between the Company and CL SAS, is a related party of the Company. CLI is incorporated for the purpose of distribution and sale of CL SAS's products in India.

Through incorporation of CLI, the Company would aim towards building formidable luxury brand portfolio and will add footwear, supplementing fashion apparel in its portfolio.

Shares of Aditya Birla Fashion and Retail Limited was last trading in BSE at Rs. 237.55 as compared to the previous close of Rs. 240.30. The total number of shares traded during the day was 222163 in over 2818 trades.

The stock hit an intraday high of Rs. 245.00 and intraday low of 236.85. The net turnover during the day was Rs. 53511509.00.

Source : Equity Bulls

Keywords

AdityaBirlaFashionandRetail INE647O01011 ABFRL JV ChrisitanLouboutinSAS LuxuryBrand Footwear