LONDON — The London-based couture label Ralph & Russo has a new minority investor: John Caudwell, the British businessman and philanthropist who made his fortune with mobile phones.
Ralph & Russo, whose creative director is Tamara Ralph, and whose president and chief executive officer is Michael Russo, called the investment “passive,” and said Caudwell’s stake was “noncontrolling.”
Ralph and Russo will remain in charge of the company that was founded in 2007, and is a member of the Chambre Syndicale de la Haute Couture. Ralph & Russo shows its collections in Paris.
Russo said: “Mr Caudwell’s investment…will fuel our product diversification and expansion strategy. We plan to make a number of additional announcements shortly.”