Ralph & Russo Placed Into Administration

Discussion in 'Designers and Collections' started by Benn98, Mar 20, 2021.

  1. Benn98

    Benn98 Well-Known Member

    Joined:
    Aug 6, 2014
    Messages:
    41,514
    Likes Received:
    18,185
    Via Fashion United UK:

    Ralph and Russo falls into administration

    By Danielle Wightman-Stone
    17 Mar 2021

    British couture house Ralph and Russo have been placed into administration, citing the impact of Covid-19.

    On the brand’s Instagram, Tamara Ralph, creative director and Michael Russo, chief executive of Ralph and Russo, said in a joint statement: “It is with great sadness that after 11 years we announce that Ralph and Russo has today been placed into administration.

    “This difficult decision has been made to help ensure the company’s ongoing success and to restructure the business after the retail economy across the world has been badly hit by the Covid-19 pandemic.”

    Founded in 2010, Ralph and Russo has been a fan of celebrities on the red carpet since it launched, and gained international recognition when the Duchess of Sussex wore one of the designer’s dresses in her engagement photographs.

    However, Covid-19 has seen orders dry up in the wake of global lockdowns and the cancellation of weddings and red carpet events, and even led to the London-based couture and ready-to-wear label cancelling its couture presentation in January. At the time, it did say that it hoped to return to the couture calendar in July.

    British couture house Ralph and Russo placed into administration
    There has been speculation over the couture house’s future following a lawsuit with one of its minority investors Candy Ventures, an investment company belonging to the luxury real estate mogul Nick Candy. The suit, filed in the High Court, involves the disputed terms of a 17-million pound loan, and Candy’s role as an investor.

    The statement, added: “We’re incredibly proud of our unique position in the market as one of the world’s most exclusive luxury brands, achieved through sheer hard work, determination and a love for what we do.

    “It is our intention that the business will continue to operate throughout this time, and we remain fully committed to supporting our incredibly loyal global clientele and our wonderful staff, who without which none of this would have been possible. With your support we remain full of hope and optimism for the future.”

    Ralph and Russo look to restructure business after being hit by lack of sales due to pandemic
    Ralph, also added a statement on her personal Instagram, saying: “I put my heart and soul into my work and everything I create and I’m incredibly proud to have been able to build a global brand in as little as 11 years.

    “The world has been badly hit by the financial downturn caused by the Covid-19 pandemic and we could have never predicted its impact on businesses and retailers across the globe.

    “I established this brand with little more than my own will, sheer determination, creativity, and a handful of my sketches. The women I create for, I admire and love. You are my constant inspiration and the reason I do what I do, and will continue to. You have become my close friends and family.

    “My incredibly talented and loyal staff and master craftsman who I’ve had the pleasure of working alongside over the years, you are and continue to be, the heart and soul of the house and I’m forever thankful for your passion and talent. Without you, I could never have created. You are truly special and I hope I have the honour of continuing working with you for many more years to come.”

    The troubling news comes just six weeks after Ralph became a mother.

    Ralph, added: “I am eternally thankful for those who have been there for me and supported the brand over the years and I will endeavour with all my heart to move through this period positively and to take the business forward to secure the future of the brand for my staff and my clients.

    “The restructure plans for the brand are to help ensure its ongoing success and to hopefully secure a solid path for the future of the company. The brand I created was only the start, and as this new chapter opens, I move into this period with positivity and strength knowing that this is only the beginning of something new.”
     
  2. YohjiAddict

    YohjiAddict Well-Known Member

    Joined:
    May 26, 2016
    Messages:
    2,332
    Likes Received:
    2,525
    I never liked their clothes but it must be hard seeing all you've worked for go up in flames, all the while even more mediocre creatures thrive thanks to the big conglomerates behind them...
     
  3. fakeawake

    fakeawake Well-Known Member

    Joined:
    Dec 5, 2020
    Messages:
    249
    Likes Received:
    313
    Are they really closing? Their shows were huge productions so they must make alot of money. And 60 maribou crystalline gowns is probably a million dollars alone.
     
  4. Benn98

    Benn98 Well-Known Member

    Joined:
    Aug 6, 2014
    Messages:
    41,514
    Likes Received:
    18,185
    Think of it as yet another fine example of fashion stagecraft, always giving the impression that they're luxe went he reality is far from it. We saw the same from Sies Marjan.
    I wonder where this comes from because it's also quite common in the gay community.

    Anyway, they've had some high profile clients but I'm sure last summer toppled their business model because nobody was buying and we now know that Meghan likely couldn't afford to support them anymore what with the 'meagre' sum they're forced to live with. But jokes aside, they've never really focus hard enough on accessories that could have tied them over, and then there are all the retail spaces (two in the UK alone!). It's all a bit much for a brand who is mostly known for HC.
     
    dsamg, YohjiAddict and bc collector like this.
  5. YohjiAddict

    YohjiAddict Well-Known Member

    Joined:
    May 26, 2016
    Messages:
    2,332
    Likes Received:
    2,525
    ^Poor Meghan, I don't know how she even manages to subsist when confronted with such adversity day in and day out.
     
  6. JohannesL

    JohannesL Well-Known Member

    Joined:
    Jul 7, 2020
    Messages:
    271
    Likes Received:
    413
    I remember reading somewhere they bragged about doing better than Chanel in terms of haute couture a long time ago which I really doubted about it. To me, they are the British Elie Sabb which is quite inoffensive. Like the majority of the TFS, I was indifferent to this brand. Nevertheless, it's quite sad to hear about this news during this time given that more mediocre brands are still thriving. Their brand is neither original or innovative in every sense, but I will not complain about those women who are really buying their aesthetics.
     
  7. fakeawake

    fakeawake Well-Known Member

    Joined:
    Dec 5, 2020
    Messages:
    249
    Likes Received:
    313
    I believe that they were doing really well because they were kind of an haute couture outfitter, they had no one look, they did a little of everything. You could get a sl*t glamazon dress there and a conservative mother of the bride suit there. No other brand offered that range which is why I thought they did well. Ive also seen alot of R&R on the street since that collection with the big hats.

    They were unique in the HC field because of that 'everything' look. But at the same time it could be their downfall. A Brand with no look can be easily replaced, Dior's New Look is irreplaceable so it will never go out of business. Elie Saab ultimately has a look.

    R&R needed a perfume before accessories, a perfume takes no money bc it's licensed out and the perfume maker is the one fronting all the cost. JPG is bathing in cash off Le Male (and Jean Paul deserves a retirement in absolute luxury for what hes given culture).
     
    #7 fakeawake, Mar 21, 2021
    Last edited: Mar 21, 2021

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice
monitoring_string = "058526dd2635cb6818386bfd373b82a4"