News > Reliance Retail Acquires 52% Majority Stake In Ritu Kumar's Fashion Label

Reliance Retail Acquires 52% Majority Stake In Ritu Kumar's Fashion Label

Reliance Retail Ventures Limited (RRVL)- the retail arm of billionaire Mukesh Ambani-owned Reliance Industries acquired a majority 52 per cent stake in popular designer labels of Ritu Kumar, in its latest bet on the country's fast-expanding luxury designer market.

The majority stake acquisition included buying out the 35 per cent stake held by Everstone Capital in Ritika Private Limited-the company that owns Ritu Kumar brands.