Genesis Colors restructures the top deck

Managing Director Sanjay Kapoor is now the executive chairman of the Genesis Group and chief operating officer Nikhil Mehra is now the CEO as part of the restructuring at the holding company which has luxury brands such as Satya Paul and Genesis Luxury which retails international brands such as Jimmy Choo, Armani and Burberry in India.

The move is aimed at consolidating the business as one entity in the next 12-18 months. This is being done because the existing investors such as Sequoia, Henderson, Mayfield and L Capital may consider exiting the group.

Kapoor is expected to mentor the business and lead corporate restructuring of the group along with group chief financial officer Samit Guha. Kapoor is thankful to the investors for their support and he hopes that the Group may consider an IPO in the future.

Recently, Gensis Luxury tied up with Tata CLiQ, the e-commerce platform of the Tata Group, to offer international luxury brands on the platform.

Genesis Colors owns fashion brand Bwitch and Satya Paul while Genesis Luxury markets and distributes luxury and premium brands such as Bottega Veneta, Canali, Michael Kors, Coach and Furla in India. Brands of Genesis Colors are present in 20 cities through more than 100 standalone stores.