Thursday, April 3, 2025

Reliance Brands to take over House of Ritu Kumar, picking up the stake of 33%, Read out

Must Read

Kesari Chapter 2 Teaser Unveiled: Akshay Kumar returns in a powerful tale of resistance

Dharma Productions has officially dropped the much-awaited teaser for Kesari Chapter 2, the sequel to the 2019 patriotic epic...

Jolly LLB 3 gets a release date – Akshay Kumar & Arshad Warsi set for an epic courtroom showdown

Bollywood fans, get ready! The much-awaited Jolly LLB 3 has officially locked its release date. Film critic and trade...

Mumbai Police launch cyber hunt against Chhaava piracy; Over 1800 websites under scanner

The Mumbai Police have launched an investigation into the unauthorized distribution of Chhaava, the historical drama starring Vicky Kaushal...

The Reliance Retail unit will be taking over the House of Ritu Kumar while picking up the stake of about 30% held by private equity firm Everstone Capital and a massive amount of the promoter’s holdings.

The fashion house owns four designer brands including Label, RI, Aarke and Ritu Kumar Home. The company has been in the market for about five decades now to raise money to fund expansion. Reliance on the other hand has been buying retail brands to hold up its superiority in a market against competitors Amazon and Flipkart. Reliance is expected to announce the deal by next week.

As per the deal, Everstone will quit the Indian designer brand that functions about seven dozen physical outlets. About ₹100 crores has been invested by Everstone in the New Delhi-based designer retailer to pick the stake in 2014.

Reliance Brands presently markets about four dozen global premium-to-luxury labels which included Burberry, Bally, Gas, Kate Spade, Diesel, Brooks Brothers and Steve Madden amongst others. In 2019 it acquired a small rival Genesis Luxury which gave it sway over Salvatore Ferragamo, Jimmy Choo, Michael Kors, Paul Smith among other luxury labels.

With the pandemic, it is observed that the best corporate houses out there have been bullish on Indian designers.

Aditya Birla Fashion and Retail has a partnership with Tarun Tahiliani for launch a men’s ethnic wear brand and will also be acquiring a 33% stake in The designer’s couture business. Earlier, ABFRL also purchased a 51% stake in designer brand Sabyasachi, and a  51% stake in Finesse International Design, running apparel label Shantanu & Nikhil, for ₹60 crores.

Reliance Retail has also been on a spree buying stakes in companies such as Netmeds, Urban Ladder and Zivame. In 2020, Reliance completed the largest fundraise exercise in the sector with ₹47,265 crores from global private equity funds for a 10.09% stake.

Download EntNetwrk App for more updates.

Latest News

Shreyas Talpade accused in major fraud case; Linked to multi-crore scam in UP

Actor Shreyas Talpade, along with 14 others, has been named in a large-scale fraud case in Mahoba, Uttar Pradesh, for allegedly scamming villagers out...

Hansal Mehta confirms new film with Saif Ali Khan; Teases exciting projects ahead

Renowned filmmaker Hansal Mehta has officially announced his next directorial venture, featuring Saif Ali Khan in the lead. This marks their first collaboration, heightening...

Harry Potter Series: John Lithgow set to play Dumbledore in the magical reboot

The Harry Potter universe is getting a fresh start, and with it comes a new Albus Dumbledore. Acclaimed Emmy-winning actor John Lithgow is officially...

Kesari Chapter 2 Teaser Unveiled: Akshay Kumar returns in a powerful tale of resistance

Dharma Productions has officially dropped the much-awaited teaser for Kesari Chapter 2, the sequel to the 2019 patriotic epic Kesari. Starring Akshay Kumar, Ananya...

More Articles Like This