British couture house Ralph & Russo has welcomed a new partner in La Perla Fashion Investment B.V., which has taken a $50 million, non-controlling minority share, FN’s sister publication WWD has learned.
An announcement is expected today.
Michael Russo, chief executive of Ralph & Russo, described the investment as strategic and said it 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.”
Pascal Perrier, La Perla Global Management (UK) Limited chief executive, will join the board of directors in a non-executive advisory capacity. Russo said the company was looking forward to Perrier’s assistance in delivering its goals.
Perrier, who was previously chief executive of Burberry Group Asia-Pacific, said 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.”
Ralph & Russo was founded in London in 2010 and rapidly built a name in couture, becoming the first British guest member of the Chambre Syndicale de la Haute Couture in more than a century. The brand has since expanded into high-end RTW and accessories and rolled out standalone stores in London, Paris, Dubai, Doha and Monte Carlo, with units in Miami and New York set to open soon. It also has a shop-in-shop at Harrods.
The London-based brand has a host of celebrity and international customers, with Meghan Markle wearing a Ralph & Russo skirt and top for her official engagement picture in 2017. Jennifer Lopez, Rihanna, Kaia Gerber, Gwyneth Paltrow and Bella Hadid have all been snapped wearing the brand’s hyper-feminine, embellished designs for red-carpet events.
The company is also known for its service offer, with designer Tamara Ralph and her team constantly traveling for fittings and client appointments and customers receiving films of their dresses being made in the vast London atelier.
La Perla Fashion Investment describes itself as wholly-owned subsidiary of Tennor Holding B.V., a global investment holding company which invests in public and private companies via majority and minority stakes, as well as public and private debt instruments. It is also an indirect majority shareholder of La Perla Global Management (UK) Limited, the head office of the La Perla operating entity.
In addition to his long career at Burberry, Perrier served in senior management at several other luxury firms, including Gucci Group, where he executed the acquisition and subsequent integration of Yves Saint Laurent and Balenciaga.
This story was reported by WWD and originally appeared on WWD.com.
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