Reliance Buys 52% Stake in Ritu Kumar
Reliance Retail Ventures Limited (RRVL) has acquired 52% stake in Ritika Pvt Ltd that owns- Ritu Kumar, Label Ritu Kumar, RI Ritu Kumar, Aarké, and Ritu Kumar Home and Living, which is India's oldest fashion house.
India
Reliance and pioneering
designer Ritu Kumar announced 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.
Reliance
Retail Ventures Limited (RRVL) has acquired 52% stake in Ritika Pvt Ltd that
owns- Ritu Kumar, Label Ritu Kumar, RI Ritu Kumar, Aarké, and Ritu Kumar Home
and Living, which is India’s oldest fashion house.
The Ritu Kumar business includes four
fashion brand portfolios which cumulatively retail out of 151 point of sales
globally. 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. 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.
Aarké is the newest addition
to the brand portfolio. It is an accessible product line blending the
aesthetics of Ritu Kumar in
easy dressing.
The partnership aims to
highlight India’s re-emerging role in the international couture industry,
through parallel tracks of sustenance and innovation. The goal is to
reinterpret age-old designs, motifs and patterns that nest under the vast
repository of crafts for modern accessories, stylish, textile-rich clothes and
distinct couture from India.
Source: The Times Of India
Image
Source: Google Images
Also Read:
