’s largest retailer invested in the brand Manish Malhotra Styles, the company on Tuesday revealed it has taken a 52 percent stake in another one of the country’s best-known designers, Ritu Kumar, with plans to take it to a new level. The designer’s company Ritika Private Ltd. owns several brands, including Ritu Kumar, Label Ritu Kumar, RI Ritu Kumar, aarké, and Ritu Kumar Home and Living, with a core focus on embroidery, artisanal crafts and prints.
“I was in New York studying the history of Western art at Radcliffe College and I used to read Women Wear’s Daily in the 1950s. I was very concerned about what had happened to the Indian aesthetics, what had happened to the Indian textiles, because there was none to be seen in India. I came to Calcutta [now Kolkata] and as chance would have it, I went to the districts and I realized that the printing, the weaving, the embroideries had all gone over the 200 years of colonial rule in India.
The deal with Reliance Retail includes the acquisition of Evermore’s approximately 35 percent holding.
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