Home / Knowledge / News / Fashion / India's Reliance Retail acquires 52% stake in Ritu Kumar's company

India's Reliance Retail acquires 52% stake in Ritu Kumar's company

19
Oct '21
Pic: Ritu Kumar
Pic: Ritu Kumar
The retail arm of Reliance Industries, Reliance Retail Ventures Limited (RRVL) led by Isha Ambani, has announced the acquisition of 52 per cent stake in Ritika Private Limited, Indian fashion designer Ritu Kumar’s company. Reliance also recently acquired a 40 per cent stake in fashion designer Manish Malhotra's MM Styles Private Limited.

Everstone, a Singapore-based private equity firm, held 35 per cent stake in Ritika Pvt Ltd, which was acquired by RRVL back in 2014 for $16.6 million. The company has now bought another 17 per cent in the label to bring its total share to 52 per cent.

Ritu Kumar, one of India’s oldest design houses with more than 800 employees, comprises three brands: the classic ‘Ritu Kumar’, edgy, global and fashion forward ‘Label by Ritu Kumar’ and bridal couture line ‘Ri’. It currently has over 50 stores in India.

Fibre2Fashion News Desk (KD)


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Oct 2021

11 European nations seek ambitious measures to tackle waste in textile

Eleven European countries—Austria, Belgium, Denmark, Finland, France, ...

Pic: Shutterstock

Textiles | On 19th Oct 2021

Industrial units in Vietnam’s HCM City hit by labour shortage

Several Vietnamese industries, especially labour-intensive ones like...

Pic: German Embassy Phnom Penh

Textiles | On 19th Oct 2021

Consortium comprising GIZ, others to address textile waste in Cambodia

An international consortium initiated by Deutsche Gesellschaft für...

Interviews View All

Gaurav Davda, Jindal Worldwide Ltd

Gaurav Davda
Jindal Worldwide Ltd

Indian MMF sector to become globally competitive

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Ghatit Laheru,

Ghatit Laheru

When the 2001 tremblor wrecked the Kachchh region of Gujarat throwing many ...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search