The Hindu Business Line : Genesis Colors to expand retail presence

Genesis Colors Pvt Ltd, holding company of the designer label Satya Paul, plans to set up 16 more exclusive stores for the label in the next one year. The company already has 15 stores for the label.

The company also plans to set up a chain for its multi-designer store `Samsaara' by opening seven stores during the next year. "The stores would be set up in Mumbai, Bangalore, Chennai and Hyderabad apart from Delhi.

``In the next fiscal, we expect the chain to contribute 15-20 per cent of our total sales," says Mr Sanjay Kapoor, Managing Director, Genesis Colors. Currently, the company operates one Samsaara store in the Capital that offers garments conceived by 52 designers.

The total investment in the two expansions would be Rs 15 crore, two-thirds of which would be arranged through internal accruals and the rest through debt.

Commenting on the expansion, Mr Kapoor said, "With more and more women working, their buying power has increased. Besides, there is huge disposable income and wealth being created in the country."

Part of the Rs 15-crore investment would also go towards opening two more stores in the current fiscal for the `Deepika Gehani' label that the company acquired last year. There are currently two stores for the label.

The company is also targeting the overseas market and plans to open stores in Dubai and Singapore for the Satya Paul label during the current fiscal. On the anvil are acquisitions of three more Indian designer labels in the next few months, Mr Kapoor said.

Late last year, the company had announced its disengagement with US-based designer Sanjana Jon.

The turnover of the company stood at Rs 50 crore for the last fiscal.

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