- Huw Hughes |
Global investment holding company and owner of La Perla, Tennor Holding B.V. (Tennor), has acquired a 50 million dollar (about 40 million pound) minority stake in British couture fashion brand, Ralph & Russo.
Tennor said the investment aims to cover the funding requirements Ralph & Russo needs to accelerate its existing global growth plans. Tennor retains the option to increase its holding up to 40 percent.
CEO of La Perla UK, Pascal Perrier, will be joining the Ralph & Russo board in a non-executive advisory capacity. Ralph & Russo will remain as a fully independent company, led by the existing management team.
Investment to accelerate Ralph & Russo's global growth plans
Commenting on the news in a statement, chief executive of Ralph & Russo, Michael Russo, said: “This strategic investment signifies an important step in allowing Ralph & Russo and our team to realize our long-term growth plans whilst keeping the brand privately owned and managed.
“We also look forward to welcoming Pascal Perrier’s expertise, as he joins our Board in a non-executive advisory capacity, and are delighted to have him assist in delivering our goals.”
Tennor CEO Robin Bagchi, added: “We are delighted to be able to provide Ralph & Russo with the funding required to further the expansion of the brand internationally. We share the brand’s entrepreneurial spirit and passion for luxury, and believe this investment is complementary to our existing holding in La Perla UK and look forward to working with Tamara Ralph and Michael Russo.”
London-based Ralph & Russo is a privately held company owned and founded by Tamara Ralph and Michael Russo (pictured) in 2010. The brand is the first British member in almost a century to be accepted by The Chambre Syndicale de la Haute Couture - the governing body that defines which fashion brands are eligible to be true couture houses.
Photo credit: Ralph & Russo