Reliance Brands buys 8 pc additional stake in Genesis Colors

Jul 24, 20181 min read

Reliance Industries Ltd on Saturday said its subsidiary has purchased additional 8.14 percent stake in luxury fashion retail firm Genesis Colors for about Rs 34.17 crore.

“Reliance Brands, a subsidiary of the company, has purchased an additional 8.14 percent equity stake in luxury fashion retail firm Genesis Colors Limited for about Rs 34.17 crore, taking its total stake in GCL to 9.29 percent,” RIL said in a filing.

According to a PTI report: GCL was incorporated in November, 1998 and is in retailing and wholesale business of branded readymade garments, bags, footwear and accessories directly and through its subsidiary/ joint ventures.

“GCL belongs to a similar industry as Reliance Brands Limited. This acquisition will add to the existing portfolio of branded fashion retail outlets,” the filing said.

GCL’s had provisional annual turnover of Rs 86.02 crore in fiscal year 2017-18. It had turnover of Rs 80.04 crore and Rs 114.16 crore in 2016-17 and FY 2015-16, respectively, the filing added.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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