Tennor Holding Acquires Minority Stake in Ralph & Russo
The investment allows Ralph & Russo to pursue expansion strategy
London, 10th July 2019 – Tennor Holding B.V. (‘Tennor’), a global investment holding company and the owner of La Perla Fashion Investment B.V., today announces it has acquired a minority stake in Ralph & Russo, the British couture fashion brand, with the option to increase its holding up to 40%.
Ralph & Russo is a London based, privately held company owned and founded by Tamara Ralph and Michael Russo in 2010. Ralph & Russo is a high fashion house that specialises in couture, employing 350 people in the UK. The brand is the first British member in almost a century to be accepted by The Chambre Syndicale de la Haute Couture – the governing body that defines which fashion brands are eligible to be true couture houses.
Tennor’s $50million investment in Ralph & Russo is made within the same luxury fashion investment theme as Tennor’s investment in La Perla Global Management (UK) Limited (‘La Perla UK’), the UK headquartered, international luxury lingerie brand with strong Italian heritage. This investment covers the funding requirements Ralph & Russo needs to accelerate its existing global growth plans.
Pascal Perrier, a fashion industry veteran, CEO of La Perla UK, will be joining the Board of Ralph & Russo in a non-executive advisory capacity. Ralph & Russo will remain as a fully independent company, led by the existing management team.
Robin Bagchi, CEO of Tennor Holding B.V., said: “We are delighted to be able to provide Ralph & Russo with the funding required to further the expansion of the brand internationally. We share the brand’s entrepreneurial spirit and passion for luxury, and believe this investment is complementary to our existing holding in La Perla UK and look forward to working with Tamara Ralph and Michael Russo.”
Pascal Perrier, CEO of La Perla UK added: “Tamara, Ralph and Michael Russo have done a phenomenal job at creating one of the world’s top luxury fashion brands in a short space of time. I fully support the founders’ strategy and look forward to being a part of Ralph & Russo’s continued success story.”
Michael Russo, Chief Executive of Ralph & Russo commented: “This strategic investment signifies an important step in allowing Ralph & Russo and our team to realize our long-term growth plans whilst keeping the brand privately owned and managed.
“We also look forward to welcoming Pascal Perrier’s expertise, as he joins our Board in a non-executive advisory capacity, and are delighted to have him assist in delivering our goals.”