Future Wise

Everstone Capital invests Rs 100 crore in the Ritu Kumar label starting a new innings for the brand.

Written by Jagmeeta Thind | Updated: April 4, 2014 2:05:36 am
Ritu Kumar latest store in Dubai. Ritu Kumar latest store in Dubai.

The recently released advertising campaign ‘The Originals’ by the fashion house, Ritu Kumar, couldn’t have been better timed. Comprising a series of short videos, it celebrates young women achievers from varied professions, like Mumbai-based photographer Prarthna Singh. It is definitely the month to celebrate success and achievement at the fashion house, which has been promised an investment of Rs 100 crore by the private equity firm, Everstone Capital. Though the news came in a few days ago, Amrish Kumar, Director and CEO and Ritu Kumar, admit it’s something they have been working on for two years now. “It’s an important first step in our new plan for the years ahead,” says Amrish, who joined his mother in the business almost a decade ago.

One of India’s foremost designer labels, the Ritu Kumar brand is today synonymous with Indian ethnic wear, including bridal wear, highlighting Indian craftsmanship and textiles. The last few years have also seen the fashion house build on their sub-brand, Label, a pret line which combines Indian aesthetics with contemporary style and is aimed at young women.

So what changes will the funding bring? While there will be no creation of a sub-brand, the emphasis would be on the younger buyer. “Retail is capital intensive and to grow you need investment. While we don’t want to move away from the core design values of the Ritu Kumar brand, you will see the label progress with continued contemporary styling,” says the CEO.

The Ritu Kumar brand, which recently opened its latest store in Dubai, is also looking at increasing visibility. “Over the years, we have increased our presence in Tier II cities as well but now want to expand in the metros and also build strong design teams,” says Amrish, who also spearheads the online video platform MummyDaddy.com with his wife. Incidentally, the latest videos have been made under this banner. “The youth today connects in newer ways,” he says.

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