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Henderson completes investment in Genesis Colors
Oct '09
Henderson Equity Partners has completed a US$17 million investment in Genesis Colors Private Limited (Genesis), one of the premier players in Indian luxury apparel, on behalf of Henderson Asia Pacific Equity Partners II L.P. Genesis is engaged in the design, manufacture and sale of luxury apparel under the Satya Paul brand and also has distribution rights in India for several leading international luxury brands, including Canali, Kenzo, Aigner, Paul Smith, Jimmy Choo, Just Cavalli and Bottega Veneta. The company was advised by Ernst & Young.

Genesis was founded in the early 1990's by Mr. Sanjay Kapoor, Mr. Jyoti Narula and Mr. Puneet Nanda, with a vision to create a high-end fashion conglomerate. The company has been a pioneer of the development of luxury apparel in India and is the leading and dominant player in this fast growing market in India today.

Speaking about the development, Sanjay Kapoor, Joint Managing Director of Genesis Colors, said, “We are delighted to have Henderson Equity Partners as investment partners and we plan to use our partners' strategic inputs to expand the retail network of Satya Paul and cement the growth of the luxury brands business in India. We will also use these additional funds to enhance the existing infrastructure and systems and for inorganic growth of the brand portfolio.”

“We are very excited to be partnering with Sanjay, Jyoti and Puneet,” said Vishal Marwaha, Partner of Henderson Equity Partners' Asia private equity team. “They are one of very few promoter teams to have the vision and execution skills to institutionalise the fashion industry in India. This, coupled with the extremely strong management and design teams that they have built, provides a strong platform to execute on their vision. The Henderson team believes strongly in the Indian consumption story, especially in the affluent and aspirational segments, and Genesis fits strongly into that thesis. We look forward to working closely with the Genesis team to continue to grow the business.”

Roger Greville, Managing Director of Henderson Equity Partners, commented, “This is a rapidly growing consumer sector, which plays to our strengths and is the sweet spot for our funds. I am delighted that we have been able to consistently and methodically build such a strong portfolio of investments, to which this is a great addition.It is testament to the strength, skill, judgement and patience of Vishal and our Asia team. Moreover, we are delighted we have been able to form relationships and back such strong management teams like the Genesis team. We very much look forward to working with them to turn Genesis into an even stronger company.”

Henderson Equity Partners

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