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Private Equity | 6 September 2013

Everstone May Pick Stake In Designer, Ritu Kumar

by Tilak Devadiga
Everstone May Pick Stake In Designer, Ritu Kumar
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PE firm, @EverstoneCapital is looking to acquire 25-30% stake in designer Ritu Kumar, BS states. The promoters of Ritu Kumar are expecting a valuation around R300 Cr.

Ritu Kumar runs franchises and retail outlets under the label RITU KUMAR across the country and specializes in developing designs reflecting the ancient traditions of Indian craftsmanship in a contemporary vocabulary.

Started in 1969, the designer apparel company has 27 retail stores across the country .

In 2002, the company launched a sub-brand LABEL – Ritu Kumar. LABEL uses the established forte of traditional Indian aesthetic to create fashion oriented international products. LABEL retails from most Ritu Kumar stores as well as some standalone stores.

The fast-growing designer wear market in India gives an attractive investment opportunity for PE investors.

The designer wear industry in India is likely to reach R11,000 Cr by 2020 from it current size of R720 Cr, at a CAGR of 40%.

Other apparel makers who own popular brands such as W, Mineral Fashions and Chemistry are also in discussions various PE investors for seeking funds.

Other notable deals in this space include;

  • Warburg Pincus was planning to buy minority stake in BIBA – India Ethnic Brand for R350 Cr.
  • Fabindia, the ethnic fabrics and handicrafts retailer bought 40% stake in @Organic_India a North Indian organic food & supplement firm.
  • Premji Invest, the investment arm of Azim Premji, picked up a 7% stake in Fabindia for R100-125 Cr, valuing the John Bissell company at over R1,500 Crore.
  • @LCapital had also bought an 8% in Fabindia from Wolfensohn Capital Partners last year.

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