“We really weren’t looking for investment at all,” explained President and CEO Michael Russo, in conversation with British Vogue on the announcement of the British Couture label, Ralph & Russo, receiving a passive investment by billionaire businessman and philanthropist, John Caudwell. “We’d been approached before and it wasn’t something we were courting, but this deal really felt right for us. John has great business experience and his investment will allow us to execute expansion and growth strategy more quickly than we had planned,” he continued.
The passive investment by one of the richest men in Britain will allow Ralph & Russo to maintain complete operating control of the label, and it also now values the Couture House, the first to be invited to the Chambre Syndicale de la Haute Couture in almost 100 years, at an undisclosed nine-figure sum.
“Tamara Ralph and Michael Russo have built an extremely successful luxury brand with a great reputation and endless potential, ” exclaimed Caudwell. “I have no doubt that my investment will continue to elevate Ralph & Russo and I’m very excited about this inspiring and rapidly growing business.”
Ralph & Russo’s debut on-schedule Couture show last January will be followed by its Fall 2014 show this July 10th.