Home / Knowledge / News / Fashion / Everstone invests Rs 100cr in fashion house 'Ritu Kumar'
Everstone invests Rs 100cr in fashion house 'Ritu Kumar'
01
Apr '14
Everstone, a leading India and South East Asia private equity and real estate investor, has signed an agreement to invest INR 100 crore for an undisclosed minority stake, in one of India’s leading fashion houses, Ritu Kumar.
 
For over four decades, the Ritu Kumar brand has symbolized premium Indian fashion. The brand has been showcasing India’s heritage, deeply rooted within the Indian craftsmanship and has attracted global admiration. Known for its innovative association with the craft sectors of India, the company has done path breaking work in reviving Indian textiles. 
 
Sameer Sain, Co-founder and Managing Partner of the Everstone Group, said, “We are delighted to partner with the iconic Ritu Kumar, whose brand has put India’s rich craftsmanship and heritage on the global map. Combining Ritu Kumar’s great brand heritage, its strong management team and Everstone deep understanding and expertise within this space, Ritu Kumar will be poised for continued success and growth.”
 
Ritu Kumar, Founder and Director, Ritu Kumar, said, “The modern professional approach of any enterprise is to collaborate with companies such as Everstone, who bring to the table, expertise and financial commitment to help in the growth of the brand. I believe that the association would greatly enhance the reach of the "Ritu Kumar" classical collection, known for its traditional quality. 
 
“Also, equally relevant would be its role in increasing visibility of the "Ritu Kumar Label line", with its organically created innovative collections, bridging the gap between an Indian and international consumer base, of an increasingly younger world.”
 
Amrish Kumar, Director and CEO, Ritu Kumar, said, "This is an important chapter in the Ritu Kumar story which has, over the years, developed into one of India's most respected and identifiable brands. We take great pride in our contribution to India's creative companies."
 
"In the last 7 years we have been developing structures within the company including sub-brands and product lines to create scale in the premium and luxury segments. We believe that the time is right both internally and in the macro environment for the infusion of growth capital.
 
"Our requirements from a private equity partner were fairly stringent and in Everstone we believe that we have found excellent partners to grow with. Their expertise in the segment along with the quality of their people gives us great confidence and we are excited about the future." 
 
“Shiva Dayal and his team at Langham Capital were the financial advisors to the transaction and instrumental in ensuring the success of the transaction.”
 

Ritu Kumar


Interviews View All

Ajay Ghariwala, Luthra Group

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Luke Otten, Wigwam Mills Inc

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Top executives, Textile industry

Top executives
Textile industry

Customised t-shirts is not a fad

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Simon Daplyn,

Simon Daplyn

Switzerland-based Sensient Imaging Technologies is a pioneer with a global ...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women 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


November 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search