Dua Associates represents Ritu Kumar’s firm in 52% equity acquisition transaction with Reliance Retail

LE Desk

New Delhi, October 21, 2021: Leading law firm Dua Associates has represented veteran fashion designer Ritu Kumar’s company Ritika Private Limited in its early acquisition transaction with Reliance Retail.

Partners Sita Khosla and Nirvaan Gupta acted as legal advisors and counsel to Ritika Private Limited, the Law Firm said in a press statement.

The transaction, that took place on October 14, 2021, was between the firm owned by Ritu Kumar — one of India’s oldest and most highly regarded fashion designers — and the Promoters (the family), in the 52 per cent equity acquisition by Reliance Retail.  

This stake sale not only gives the Retail giant control over four fashion brands but also involved buying Everstone’s 35 per cent stake in the company, the statement said.  

It added that Dua Associates’ connect with this designer brand dates back to 2014, when the Law Firm represented Ritika Private Limited in Everstone’s 16.6 million investment in the fashion house.   

Reliance Retail Ventures Limited was represented by Khaitan & Co and Everstone Capital was represented by Starlaw.