JM to invest in Genesis Colors

JM Financial Group will be making a private equity investment in Genesis Colors, a key player in the Indian fashion industry.

Genesis Colors is the holding company of fashion labels such as Satya Paul and Deepika Gehani and the multi-brand store Samsaara.

"We plan to use this investment as growth capital to further expand the footprints of our brands across India and consolidate our market share in the apparel industry", said Sanjay Kapoor, managing director, Genesis Colors, adding that the company would utilise the partner's relationships and global platform to strategise, develop and cement their portfolio.

JM Financial would be making the investment through a private equity fund that was being setup by the group. Genesis Colors is the largest manufacturer and distributor of designer sarees.

The company has exclusive stores located in Mumbai, Delhi, Bangalore, Kolkata, Chandigarh and Jaipur among others.