The French luxury cosmetics retailer, Sephora, is reported to soon end its ties with Genesis Colors, as LVMH owned L Capital plans to exit Genesis Colors. Sephora is in talks with DLF Brands for partnering in India.
It was in late September this year that L Capital had asked Genesis Colors to buy out its 40 per cent stake in Genesis Luxury or sell the marketing arm altogether. Genesis Luxury holds brands including Jimmy Choo, Giorgio Armani and others.
Infact, Genesis has been asked to get its accounts audited by the ‘Big Four’ audit companies in the country.
- Genesis Colors’ Sanjay Kapoor opens door to luxury in India (moneycontrol.com)
- DLF sells curtain wall arm Star Alubuild to Japan”s Lixil Corp (news.in.msn.com)