Ralph & Russo sale gets April 14 deadline, high demand expected
Offers for luxury label Ralph & Russo need to be in by April 14, Hilco, which is running the auction of the failed business, said on Monday. And one of its joint administrators from Begbies Traynor spoke of a “high level of interest and competitiveness of the sales process”.
Meanwhile, Hilco added that if an earlier “exceptional” offer comes in, it may be accepted. It predicted that “the interest from fashion houses, sovereign wealth funds, private equity and the global super-rich” is likely to be “intense”.
The label has a high profile courtesy of its celebrity client list that has included the Duchess of Sussex, Angelina Jolie, Gwyneth Paltrow and Beyoncé. It carved out a strong niche with its high-end ready-to-wear and couture pieces that were regular features on red carpets and at gala events.
Its prices started at £2,600 and went much higher for one-off pieces before it fell into administration this month as one of the casualties of the pandemic that has devastated business globally. Hilco described Ralph & Russo as an “A-list dressmaker, which was hit by the pandemic slump in weddings and events”.
The auction is being overseen by UK-based Hilco Streambank in conjunction with Hilco Valuation Services Europe. They’ve been instructed by Paul Appleton of Begbies Traynor and Quantuma Advisory, the business’s joint administrators.
Hilco Streambank MD Nat Baldwin, who’s co-ordinating the marketing campaign, said: “Ralph & Russo epitomises luxury fashion. The company has created an incredible brand whose elite customer base is a testament to its quality. It is a pleasure to work alongside the joint administrators to preserve the value in the Ralph & Russo brand and to help relaunch the business through this historic sale.”
Ralph & Russo was established in London in 2006 by Tamara Ralph and Michael Russo.
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