Genesis Luxury news and archive

Reliance Brands launches Balenciaga in India

Reliance Brands has launched luxury fashion house Balenciaga to India. Balenciaga founded in Spain in 1895 has stores in Japan, Greece, Australia, Canada, Hong Kong, Indonesia, and the Chinese Mainland. The iconic brand is known to have played a significant role in shaping global fashion through its haute couture creations and its modernistic...

Retail

Reliance Brands buys additional 8 per cent stake in Genesis Colors

Reliance Brands, owned by Reliance Industries, has bought an additional 8 per cent stake in luxury fashion firm Genesis Colors (GCL) for Rs 34 crore (5 million US dollars). Reliance Brands had earlier acquired a 40 per cent stake from L Catterton in September 2017 and the acquisition of the additional stake is part of Reliance’s bigger plan of...

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Business

Reliance Brands in talks to buy Genesis Luxury

Reliance Brands, owned by India’s largest retail chain Reliance Retail, will buy Genesis Luxury, a group company of private equity fund Sequoia Capital-backed Genesis Colors, for an estimated Rs 450 crore. The acquisition will make Reliance a dominant player in the country’s booming luxury market, and give it an edge in bargaining for real...

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Business

Reliance Retail’s sees 81 per cent hike in its Q2 revenue

For the second quarter Reliance Retail’s pre-tax profit jumped by 68.2 per cent year-on-year. This increase was because of growth in digital, fashion and lifestyle and petroleum products. Revenue in the quarter went up by a whopping 81.3 per cent. Reliance Retail is the organised retail arm of Reliance Industries. The company witnessed strong...

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Reliance Brands buys out L Catterton’s stake from Genesis Luxury

Mukesh Ambani-led Reliance Brands has bought out L Catterton Asia’s around 40 per cent stake in Genesis Luxury, its direct competitor in luxury retail. Reliance Brands already retails brands like Ermenegildo Zegna and Bally among others. The unprecedented move, perceived to be inimical to Genesis' founder promoters Sanjay Kapoor, Jyoti Narula...

Retail

Genesis Luxury comes up with MBO store concept -- Luxe Bridge

Genesis Luxury has launched an exclusive multi-brand store concept called ‘Luxe Bridge’. A mecca for luxury and style, Luxe Bridge aims to bring together expertly curated international designer labels focused on women’s accessories. Luxe Bridge offers iconic British label MCQ, distinctive and unique style of Cavalli Class, Italian brand of high...

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Business

Union Budget 2016: Premium branded clothes to cost more, industry unhappy

The continued focus on ease of doing business, as highlighted by Finance Minister Arun Jaitley in his Union Budget augurs well for the industry. But a section of the textile industry is already pressing the panic button. In the Union Budget 2016-17, Finance Minister Arun Jaitley has proposed to bring in high-end readymade garments under excise...

Retail

Coach partners with Genesis Luxury to enter India

Renowned American fashion label Coach will soon be available in India through a partnership with Gurgaon-based Genesis Luxury. The brand is known for its range of accessories and gifts for women and men. The New York-based Coach was founded in 1941 as a family-run workshop with six leather workers who hand-made wallets and billfolds. It had...

Apparel

Genesis Luxury brings G-Star RAW denims to India

Genesis Luxury has inked a distribution and marketing deal with Dutch clothing brand G-Star RAW, popular for its denim-wear, for the Indian market. The brand is known for making raw or unwashed and untreated denim positioned as 'luxury denim for the streets'. Genesis aims to open 30 points of sale for G-Star in the next five years. A pair of...

Apparel

Genesis Colors resolves conflict with LVMH

Luxury brands retailer Genesis Luxury, that has brought brands like Armani, Canali and Furla to India, has patched up with the LVMH Group-owned private equity firm L Capital Asia. After resolving issues, L Capital Asia is now committed with its 40 percent holding in the Rs 200 crores firm. Genesis is also in the final stages of talks with two...

Apparel

Sahara to pick up majority stake in Genesis Luxury

Subrata Roy-led Sahara Group may pick up majority stake in Genesis Luxury, a retailer of high-street fashion brands like Armani, Burberry, Canali, Paul Smith and Jimmy Choo. The company is said to be in talks with Genesis in a bid to develop a portfolio of lifestyle businesses and the transaction is valued at around Rs 400 crores. Though Genesis...

Apparel

Genesis denies reports of a split with LVMH

Delhi-based Genesis Luxury known for bringing global high-end brands such as Armani, Canali, Jimmy Choo, Bottega Veneta to India, has refuted media reports of its relationship with L Capital Asia having gone kaput. Along with its parent company, Genesis Colors that has been successfully retailing Satya Paul, Tie Rack and Bwitch are recording a...