As per media reports, Everstone Capital has started early stages of discussions for acquiring a 25-30% stake in designer Ritu Kumar’s business.
Ritu Kumar, who has been awarded the Padma Shri in 2013, runs franchises and retail outlets under the label RITU KUMAR across the country. Her promoters are looking for a valuation of Rs 300 crore for the company. Launched in 1969, the designer apparel company has 27 retail stores across the country.
In 2002, the company launched a sub-brand LABEL – Ritu Kumar. LABEL uses the traditional Indian aesthetic and applies it to western silhouettes. LABEL retails from most Ritu Kumar stores as well as some standalone stores.
Other investments in the designer space include LVMH’s private equity arm, ‘L Capital’, acquisition of 40 % stake in Genesis, which sells Indian designer brand, Satya Paul and represents a number of international brands in India. L Capital is also reportedly in talks with Indian designers, Rohit Bal and Sabyasachi Mukherjee.