Genesis Colors Pvt Ltd, the Indian fashion conglomerate and holding company for major fashion retail brands and marketer of International luxury labels, announced 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 development, 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. We will use the same expertise of design, manufacturing and distribution to grow the Tie Rack business in India.” Genesis Colors plans to open 10 exclusive outlets in the first year and have 130 sales points by the fifth year of operation, added Narula.
According Jacopo Fratini, chairman, Tie Rack Retail Group Ltd, “We are delighted about the development of the Tie Rack brand in India jointly with Genesis. 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.”
Genesis Colors holds the leading fashion brands including Satya Paul, Deepika Gehani, Shobhaa De, Bwitch and the multi designer luxury boutique, Samsaara. It 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 three to four years.
— IndiaRetailing Bureau