Corporate Gallery

Updated on: Thursday, October 21, 2021, 01:00 PM IST

Reliance Retail Ventures acquires 52% stake in Ritu Kumar’s firm Ritika

RRVL acquires majority stake in Ritika Pvt Ltd that owns - Ritu Kumar, Label Ritu Kumar, RI Ritu Kumar, aarké, and Ritu Kumar Home and Living

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.

Isha Ambani, Director, Reliance Retail Ventures Limited, said, “Very few countries can match the sophistication, style and originality of design, especially in printing and painting of textiles and weaves, found in India. We are delighted to partner with Ritu Kumar, who possesses strong brand recognition, potential for scale, and innovation in fashion and retail – all key ingredients to build a complete lifestyle brand. Together, we want to build a robust platform and customer ecosystem for our native textiles and crafts – both in India and across the world – so that our crafts receive the honor and recognition they deserve in international couture.”

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.

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Published on: Thursday, October 21, 2021, 01:00 PM IST