The British couturier that’s dressed Kate Middleton and Angelina Jolie and crafted Meghan Markle’s sheer, $75,000 engagement gown has been purchased roughly 14 weeks on from its collapse into administration.
Ralph & Russo has a new lease on life after Retail Ecommerce Ventures (REV) bought the “globally celebrated brand” out of bankruptcy, taking on its business and assets, Tai Lopez, executive chairman of the two-year-old Miami Beach startup, said in a statement Thursday.
In the short time since its inception, REV has snapped up ailing retail nameplates, ditching their brick-and-mortar burdens for a lean, digital makeover. Stein Mart is now under its purview after filing for bankruptcy last year, as are value-oriented Dressbarn, onetime home goods titan Pier 1, sporting goods banner Modell’s and Linens ‘n Things, another home textiles player. All operate through e-commerce only, with REV’s ESR Holdings managing product warehousing in many cases.
Creative director Tamara Ralph and former CEO Michael Russo birthed the design label in 2010, eventually evolving its haute couture origins by launching a made-in-London ready-to-wear collection of evening dresses and gowns in 2018 and offering sunglasses, leather goods and other accessories. With maisons in London and Paris, boutiques in Monaco, Dubai…