Pic: Ralph & Russo
US advisory firm Hilco Streambank will help market the sale of London-based label Ralph & Russo Ltd., which recently went into administration due to the pandemic. The administrators will draw up a list of prospective buyers for the brand, known for designing the $78,000 dress worn by Meghan Markle in her official engagement photo with Prince Harry in 2017.
Paul Appleton from Begbies Traynor Group Plc and Andrew Andronikou of Quantuma Advisory Ltd. are joint administrators for Ralph & Russo, a global newswire reported.
Ralph & Russo was founded by designer Australians Tamara Ralph and Michael Russo in 2010 and built up a client list of billionaires and celebrities. It went on to become the first British brand in almost a century to be accepted as a member of the Chambre Syndicale de la Haute Couture, the French regulatory body that decides what is and isn’t haute couture.
The brand ran into trouble after sales of its signature cocktail dresses slumped amid last year’s coronavirus lockdowns. In a statement this week, Ralph said 'unprecedented trading conditions throughout the pandemic' had put 'tremendous strain' on the business.
Fibre2Fashion News Desk (DS)
US advisory firm Hilco Streambank will help market the sale of London-based label Ralph & Russo Ltd., which recently went into administration due to the pandemic. The administrators will draw up a list of prospective buyers for the brand, known for designing the $78,000 dress worn by Meghan Markle in her official engagement photo with Prince Harry in 2017.