Chalhoub, Christian Louboutin sign up for JV
Dubai, January 23, 2010
The Chalhoub Group, leading distributor and retailer of luxury brands, has signed an agreement for a joint venture with French luxury footwear company Christian Louboutin.
The new joint venture agreement covers the brand’s retail development throughout the Middle East region with the Chalhoub Group and will take effect from early 2010, with the opening of a Louboutin boutique managed by Farouk Trading and
Contracting Company in Al Khayyat Mall in Jeddah.
“The Middle East region is very strategic for us: an important part of our existing customers are from the region,” said Alexis Mourot, general manager of the Christian Louboutin Group.
“It took us a long time to find the right partner which shares the same values. We are very glad to partner with the Chalhoub Group in this new adventure, which has such a great retail expertise in the Middle-East,” Mourot added.
Patrick Chalhoub, co-CEO of the Chalhoub Group, said: “While keeping a close eye on our customers’ ever-changing expectations, we are constantly scouting the world for the most coveted international luxury brands.”
“We are delighted to announce our partnership with Christian Louboutin, whose designs represent the irreverence and glamour ‘à la Française’ while fitting the aspirations of our female customers for high-end signature footwear,” he added. – TradeArabia News Service