Louboutin walks tall in Middle East
They have heels at least 12 centimetres high, red soles and are so hot that every woman wants a pair.Christian Louboutin’s shoes could soon be strutting all over the Middle East as the company is set to open three of its own stores in the region.LouboutinWith stocks limited at Harvey Nichols in Dubai, the only retailer in the Emirates licensed to sell the shoes, the openings are expected to be popular with discerning buyers of footwear all over the region.
The company will spend between US$6 million (Dh22m) and $10m rolling out stores in Beirut, Riyadh and Mall of the Emirates in Dubai as part of a new joint venture with one the Middle East’s largest luxury retailers and distributors,wow power leveling Chalhoub Group, to develop the brand in the region. The partners opened the first store in Jeddah in January.
Alex Mourot, the general manager of Christian Louboutin, said the move would help strengthen the company’s market share in the region, which stood at about 2 per cent.“We are very selective in terms of point of sale. We have seen that, even during the crisis, some areas do very well. There are a lot of customers asking why we don’t have stores in this region. ed hardy sunglassesSo we think the Middle East is a strong retail market for free-standing stores.”
Louboutin, which spent three years looking for a joint-venture partner, also plans to develop its accessories line, such as handbags.Luxury conglomerates such as LVMH and Gucci Group have tapped sales of accessories, including lipstick, watches and sunglasses,boots on sale which can rake in about 60 per cent of a designer’s revenue.
Patrick Chalhoub, the chief executive of Chalhoub Group, said Louboutin was the only brand the company was taking on this year.The group, which has 350 shops in 14 countries across the Middle East, was hit by the dramatic fall in Dubai sales last year just as it was making investments in additional stores in new shopping centres, such as Dubai Mall.ed hardyFor the group, whose brands of which also include Fendi and L’Oreal cosmetics, UAE turnover last year was flat at about Dh1 billion, but profitability fell by between 40 and 60 per cent.
Pretty well, actually! Although it has been nine long years since the last time J. Lo stepped on the stage at Studio 8H as the host of SNL, Lopez showed none of the signs of depression that the tabloids had been claiming she had been suffering from this week.Rolex Watches Rather, she appeared happy and confident, although never quite as at ease as she was when she was cracking wise on the George Lopez Show a few weeks back. But bonus points are due to Lopez for maintaining her composure when three people inexplicably walked in front of the camera during her monologue!
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