Genesis Colors is a luxury fashion brand franchisee and retailer
Genesis Colors is the holding company of fashion brands – Satya Paul and Bwitch. Satya Paul is a designer saree brand and Bwitch is a luxury inner wear brand.
Venture capital investor Sequoia Capital India has invested $3 million of additional capital in its initial public offering (IPO)-bound portfolio firm Genesis Colors Ltd.
Genesis was founded in 1998 by Sanjay Kapoor, Jyoti Narula and Puneet Nanda, Satya Paul’s son.Genesis Luxury, a subsidiary of Genesis Colors is exclusive Indian distribution and marketing partners for Paul Smith, Bottega Veneta, Jimmy Choo, Armani, Furla, Tumi, Crabtree & Evelyn and Michael Kors.
One of the person aware of the development said..
“Sequoia has invested around $3 million in Genesis ahead of the company’s planned IPO. The money was invested in two tranches, one in March and one recently in April. The funds are likely be used by the company for ongoing capex and working capital requirements.”
The firm plans to raise as much as Rs600-650 crore through its IPO. It plans to utilize its primary capital of Rs380 crore, for buying shares of the company’s subsidiary Genesis Luxury Fashion from Splendor Distributions and promoter Sanjay Kapoor.