Published 3 years ago

Reliance to buy 52% stake in top Indian fashion label in luxury bet

Summary by Reuters

By Abhirup Roy and Aditya Kalra MUMBAI - The retail unit of Indian conglomerate Reliance Industries has acquired a 52% stake in popular designer labels of Ritu Kumar, the company said on Tuesday, in the latest bet on country's fast-expanding luxury designer and retail market. Reliance Retail did not disclose financial details of the transaction, but said its majority stake buy included

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Times of India

reliance: Reliance buy 52% stake in designer labels of Ritu Kumar

The retail unit of conglomerate Reliance Industries has acquired a 52% stake in popular designer labels of Ritu Kumar, the company said on Tuesday, in the latest bet on the country's fast-expanding luxury designer market.

3 years ago·India

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News18 India

Reliance Retail Acquires 52% Stake in Ritu Kumar Brand

This is second investment by Reliance Industries in a designer brand in a week’s time. Reliance Brands had last Friday signed a definitive agreement to invest in Manish Malhotra’s eponymous brand for a 40 per cent minority stake.

3 years ago·India

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Reuters

Reliance to buy 52% stake in top Indian fashion label in luxury bet

3 years ago·United Kingdom

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NDTV

Reliance Retail Acquires Majority Stake In Ritu Kumar's Designer Label

Reliance Retail acquired a majority 52 per cent stake in pioneering designer Ritu Kumar's label, which includes buying out 35 per cent stake held by Everstone Capital in Ritika Privat Limited-the company that owns Ritu Kumar brands.

3 years ago·New Delhi, India

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Live Mint

Reliance Retail acquires majority stake in designer Ritu Kumar’s firm

RRVL had acquired the 35% stake that Singapore-based private equity firm Everstone held in Ritika Pvt Ltd after investing $16.6 million in the company in 2014. Reliance bought an additional 17% over and above that

3 years ago·New Delhi, India

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Moneycontrol

Reliance Retail Acquires 52% Stake In Ritu Kumar Brand

This is second investment by Reliance Industries in a designer brand in a week’s span. Earlier on Friday, Reliance Brands had signed a definitive agreement to invest in founder and creative director Manish Malhotra’s eponymous brand for a 40 percent minority stake.

3 years ago·India

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