Genesis to receive investment from JM Financial

New Delhi, May 2: Genesis Colors Pvt Ltd, a key player in the Indian fashion industry today announced that JM Financial group has agreed to make a private equity investment in the company.

We plan to use this investment as growth capital to further expand the footprints of our brands across India and consolidate our market in the apparel industry'', said Managing Director of Genesis Colors, Sanjay Kapoor.

The investment would be made by a private equity fund being set up by the JM Financial group, once all necessary approvals are received by it, said a statement released here.

Genesis Colors, a holding company of fashion labels Satya Paul, Deepika Gehani and the multibrand designer store Samsaara, is the largest distributor of designer sarees and has exclusive stores in cities like Mumbai, Delhi, Bangalore, Kolkata, Chandigarh, Jaipur and other places.

UNI