California-based private equity firm Retail Ecommerce Ventures is acquiring UK-based luxury brand Ralph & Russo Limited. No financial terms were disclosed.
London – 1st July 2021 – Retail Ecommerce Ventures (REV) has made a successful bid to acquire the business and assets of Ralph & Russo Limited, the UK-based luxury brand specialising in couture, ready-to-wear and luxury goods.
Paul Appleton of Begbies Traynor Group and Andrew Andronikou of Quantuma Advisory, acting as Joint Administrators, conducted a thorough and extended sales process which generated an immense amount of global interest and resulted in numerous parties submitting bids. Retail Ecommerce Ventures was the successful party and the deal has now completed.
Retail Ecommerce Ventures (REV) was founded by Alex Mehr and Tai Lopez in 2019. Over the past two years, REV has made a series of successful acquisitions including the Pier 1, Radio Shack, Dressbarn and Stein Mart brands.
Commenting on the sale, Paul Appleton of Begbies Traynor Group said: “Retail Ecommerce Ventures has a strong track record of acquiring and growing iconic retail brands globally. The Joint Administrators are confident that this acquisition will bolster the success of the Ralph & Russo brand globally. “
Tai Lopez, Executive Chairman of Retail Ecommerce Ventures commented: “Ralph & Russo is a globally celebrated brand with a unique position in the luxury sector and significant brand affinity. With REV’s investment, there is massive potential for the Ralph & Russo brand to retain and grow its market leading position at the forefront of luxury design.”
Ralph & Russo has become known as an international luxury brand, revered for creating designs that are contemporary and sought after worldwide. Having initially entered the market with couture, the brand expanded to become a global luxury lifestyle brand, encompassing ready-to-wear, leather goods, accessories and sunglasses.