Retail Ecommerce Ventures (REV) has made a successful bid to acquire the business and assets of Ralph & Russo, a British fashion house in administration.
Paul Appleton, of Begbies Traynor Group, and Andrew Andronikou, of Quantuma Advisory, were acting as Ralph & Russo’s joint administrators and conducted the sales process ”which generated an immense amount of global interest and resulted in numerous parties submitting bids,” according to a statement. No financial details of the transaction were released.
”With REV’s investment, there is massive potential for the Ralph & Russo brand to retain and grow its market leading position at the forefront of luxury design,” according to Tai Lopez, REV’s executive chairman.
REV was founded by Alex Mehr and Lopez in 2019. Over the past two years, it has carried out a series of acquisitions including the Pier 1, Radio Shack, Dressbarn and Stein Mart brands.