Ermenegildo Zegna and Reliance Brands pick up stake in Raghavendra Rathore
The luxury Indian menswear label Raghavendra Rathore is set to be scaled up following the announcement that the Italian luxury group Zegna and Reliance Industries’ Reliance Brands have picked up a stake in the business. Rathore’s eponymous brand currently has seven flagship stores in India and the partial acquisition could really increase the brand’s presence in the country.
Ermenegildo Zegna CEO Gildo Zegna told the Press Trust of India: “Like Reliance, we are strategic and not merely financial investors. As regards the investment in Raghavendra Rathore, it is significant as it is a first for a global fashion house making a strategic investment in the business of an Indian designer. In some sense, it heralds the coming of age and maturing of India’s luxury fashion business.” Zegna also mentioned that the business could be interested in other, similar investments in India as he said that there is an untapped market for luxury wear in the country.
Rathore stated that he was convinced by Reliance Brands’ knowledge and Zegna’s design synergies to go ahead with the deal. Ermenegildo Zegna, which has its own menswear brand, retails through three stores in India, all run by Reliance Brands.
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