$50 Million Investment Will Help Ralph & Russo Bring Its Relatable Couture
British couture house Ralph & Russo, which became a household-name when Meghan Markle wore the brand for her engagement portraits with Prince Harry in 2017, has received $50 million (£40 million) from La Perla Fashion Investment B.V. The new partner has taken a non-controlling minority share in the 2010-born label.
“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,” said chief executive Michael Russo.
The business move marks a new chapter for the Mayfair brand. After building up a high-profile fan base that includes Rihanna, Zendaya Jennifer Lopez and Gwyneth Paltrow, its frothy, fantastical couture and a newer ready-to-wear line began to attract a younger following. “They’re actually buying pieces as separates, putting a skirt with a T-shirt and wearing it with sneakers… It shows the evolution of [couture].”