British billionaire purchases stake in Ralph & Russo

The founder of Phones4u, businessman and philanthropist John Caudwell, has acquired a stake in British-based couture label Ralph & Russo.

Although details of the agreement from the two parties have not been disclosed, Caudwell's investment marks a “major milestone” for the couture label. A spokesman for the British billionaire revealed to the Telegraph that this minority stake comes with no control in Ralph & Russo management, but does represent a “nine-figure” valuation of the label.

The passive investment will undoubtedly help the label continuous growth and prepare it for its next step in the industry, after Ralph & Russo previously became the first British fashion house in nearly hundred years to be admitted to the Chambre Syndicale de la Haute Couture earlier this year.

“We really weren't looking for investment at all,” revealed Chief Executive Officer at Ralph & Russo, Michael Russo to British Vogue. “We'd been approached before and it wasn't something we were courting, but this deal felt really right for us. John has great business experience and his investment will allow us to execute our expansion and growth strategy more quickly than we had planned. It's a hugely exciting time.”

Ralph & Russo was first founded in 2007 by Australians Tamara Ralph, who is the label's designer and Michael Russo. Known for its specialist, handmade evening wear, the couture label has grown since then to obtaining a client list of nearly 1,000 women, including the likes of celebrities such as Beyoncé and Angelina Jolie.

“Tamara Ralph and Michael Russo have built an extremely successful luxury brand with a great reputation and endless potential,” added Caudwell. “I have no doubt that my investment will continue to elevate Ralph & Russo and I'm very excited about this inspiring and rapidly growing business.”