RRVL acquires 52% equity stake in luxury design house Ritu Kumar

New Delhi, Oct 19 (IANSlife) Reliance Retail Ventures Limited (RRVL) and the pioneer of Indian fashion, designer Ritu Kumar, announce a collaboration chartering a new course together with RRVLs majority equity acquisition in Ritika Pvt Ltd completely acquiring Everstones 35 per cent stake in the company.

The coming together aims to explore untried interpretations of India's crafts and textiles that take the story of the country's artisanal culture beyond existing ideas in couture and fashion. The Ritu Kumar business includes four fashion brand portfolios which cumulatively retail out of 151 points 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.