Everstone buys minority stake in Ritu Kumar

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.