(1888PressRelease)
May 19, 2009 - New Delhi - Genesis Colors Pvt. Ltd., the Indian fashion conglomerate and holding company for major fashion retail brands and marketer of International luxury labels, announced today that it has signed a Licensing Agreement with Tie Rack, the London based international specialist accessories retailer for men and women. This agreement would enable the marketing and retail of Tie Rack in India.
Tie Rack, with its Head Office based in London, operates over 300 stores in 26 countries. It has a very strong presence in travel related locations with over 80 stores in international airports and 20 in train stations around the world. Merchandise includes, but is not limited to, ties, cufflinks and other fashion accessories for men and scarves, bags, kaftans and jewellery for women.
Commenting on the tie up, Mr. Jyoti Narula, Managing Director, said: “Genesis Colors has been the market leader in the necktie and accessories business in India, with over a 100 retail points in India and a huge overseas market, Satya Paul ties lead the designer necktie category. We will use the same expertise of design, manufacturing and distribution to grow the Tie Rack business in India. Our plan is to open 10 exclusive outlets in the first year and have 130 sales points by our fifth year of operation”.
Jacopo Fratini, Chairman of Tie Rack Retail Group Limited, commented: “We are delighted about the development of the Tie Rack brand in India jointly with Genesis.
Tie Rack is renowned for offering its international clientele superior design and quality of accessories at reasonable prices. Genesis Colors has a great track record in developing brands in a strategic emerging market such as India. In addition, the manufacturing and marketing experience that Genesis has in some of our company’s core products will generate a synergy for further development of our merchandise ranges.”
About Genesis Colors (P) Ltd:
Genesis Colors (P) Ltd. is one of India’s premier fashion houses and the holding company for leading fashion brands including Satya Paul, Deepika Gehani, Shobhaa De, Bwitch and the multi designer luxury boutique, Samsaara. Genesis Colors also markets and distributes international luxury labels such as BottegaVeneta, Jimmy Choo, Canali, Aigner, Kenzo, Paul Smith and Just Cavalli in India through its luxury wing – Genesis Luxury Fashion (P) Ltd. that plans to open 50 to 70 luxury retail stores for its brands across the country in the next 3-4 years. Genesis Colors was established in 2001 and its brands are retailed throughout the country via exclusive stores and franchisees.
For further information contact:
Anchal Ghosh,
Manager – Marketing & Communications,
Genesis Colors Pvt. Ltd.
Tel: +91 124 418 1111
Cell: +91 9999389933
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