Tennor Holding, the global investment company that owns lingerie brand La Perla, has acquired a $50m (£40m) minority stake in British luxury womenswear brand Ralph & Russo.
London-based Ralph & Russo is a privately held company owned and founded by Tamara Ralph and Michael Russo. Tennor said the investment aims to cover the funding requirements the brand needs to accelerate its existing global growth plans. It retains the option to increase its holding up to 40%.
Pascal Perrier, CEO of La Perla UK, will be joining the board of Ralph & Russo as a non-executive advisor. Ralph & Russo will remain as a fully independent company, led by the existing management team.
Chief executive of Ralph & Russo, Russo, said: “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.”
Tennor CEO Robin Bagchi, added: “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.”