MILAN – The Ermenegildo Zegna Group is investing in the Indian luxury market.
The Italian group has acquired a minority stake in local luxury men’s wear firm Raghavendra Rathore Jodhpur. The company declined to provide further information on the deal.
As part of the same operation, Reliance Brands Ltd. — which serves as the group’s retail partner in India — has also acquired a minority stake in the brand. Both companies will help the Raghavendra Rathore Jodhpur label enhance its growth and brand potential with the goal to establish the company as one of Asia’s leading men’s wear players.
“I’m delighted with the possibility of this opportunity; it is perhaps wise wisdom to partner and invest in key players in developing markets, to take the threshold for luxury to a new level,” said Gildo Zegna, chief executive officer of the Ermenegildo Zegna Group.
Designer Raghavendra Rathore echoed Zegna, as he believes “this strategic alliance represents a partnership that can nurture my vision of promoting our rich tradition, craft and the epitome of Indian style through my products. This alliance facilitates and opens endless possibilities for the brand to flourish, nationally and internationally.”
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A graduate from New York’s Parsons School of Design, Rathore has worked for the likes of Oscar de la Renta and Donna Karan, before launching his own label in 1994. The designer’s namesake brand is distributed in Asia as well as in the Middle East and the U.K., among other countries.