Everstone buys minority stake in Ritu Kumar
Funds raised would be utlilised to expand this icons’ store network.April 02, 2014 | comments ( 0 ) |
The private equity firm - Everstone Capital has acquired a minority stake in the fashion house, Ritu Kumar, by paying 100 crore.Amrish Kumar, Director and CEO, Ritu Kumar, in a media interaction, said, "It is an appropriate time for the infusion of ‘growth’ capital."
Presently, the brand Ritu Kumar has 30 retail stores on a pan India basis and exports garments overseas, and plans are on the anvil to increase the retail network to 100 outlets including overseas, informed Kumar.
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