Odisha News In English

Prameya English, Prameyanews.com, Odisha Latest News, Odisha News Online

RRVL acquires 52% equity stake in luxury design house Ritu Kumar

19/10/2021 at 9:45 PM

RRVL acquires 52% equity stake in luxury design house Ritu Kumar

Mumbai, Oct 19: Reliance Retail Ventures Limited (RRVL) and pioneering designer Ritu Kumar announce a collaboration to charter new, untried interpretation of India’s crafts and textiles that take the story of the country’s artisanal culture beyond existing ideas in couture and fashion. RRVL’s majority equity acquisition in Ritika Pvt. Ltd included completely acquiring Everstone’s ≈35% stake in the company.

Today the Ritu Kumar business includes four fashion brand portfolios which cumulatively retail out of 151 point of sales globally. While the brands retain the core Ritu Kumar design DNA of embroidery, artisanal crafts and prints, each has a distinct brand definition.

The classical ‘Ritu Kumar’ brand is rooted in India’s rich legacy of textile aesthetics. Since 1970’s it has been symbolic of how the contemporary Indian woman dresses. It is the legacy brand in India’s fashion story.

Label Ritu Kumar which launched in 2002 is for a younger, global consumer of western pret. Its design influences come both from the brand’s heritage, as well as the international fashion landscape.

The third RI Ritu Kumar is a luxury bridal couture and occasion wear line. Its products are considered heirlooms and are produced by the finest craftsmen and artisans.

aarké is the newest addition to the brand portfolio. It is an accessible product line blending the aesthetics of Ritu Kumar in easy dressing meant to reach a larger consumer base.

Ritu Kumar Home & Living is a category extension under Ritu Kumar that defines comfortable luxury for homes that like to tell their own story. The collection is amalgamation of modern pieces inspired by Indian textile and craftsmanship.

Continuing with RRVL’s refocused attention towards value creation through developing and supporting home-grown talent rooted in Indian design sensibilities, this partnership with the matriarch of Indian fashion Ritu Kumar will set a benchmark in this journey. The learnings from large retail network across RRVL’s subsidiaries, experience of building and nurturing global luxury to premium brands in the country, and deep commitment to Indian craftsmanship will be a strong platform to build brand Ritu Kumar going ahead.

   Related Posts