Business Standard
Everstone Capital has started early stages of discussions for acquiring 25-30 per cent stake in leading designer, Ritu Kumar’s business, according to people in the know.
A query sent to Ritu Kumar did not elicit any response, while Everstone’s spokesperson said the company could not comment on market speculations.
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.
The fast-growing designer wear market in India gives an attractive investment opportunity for private equity investors.
Moet Hennessy Louis Vuitton or LVMH’s private equity arm, ‘L Capital’, owns 40 per cent stake in Genesis, which sells leading designer brand, Satya Paul. L Capital was also reportedly in talks with top Indian designers, Rohit Bal and Sabyasachi Mukherjee to set up Indian luxury houses. L Capital had bought eight per cent stake in Indian ethnic wear chain Fabindia last year.
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