Aigner, Genesis part ways

Wednesday, 24 February 2010

Aigner, the German luxury brand, and Genesis Luxury, the up-market retailing arm of Genesis Colors, have ended their tie-up in India as their plans did not go as expected. In 2007, Genesis and Aigner had agreed to import and distribute merchandise, however, the partnership ended last month. Genesis Luxury, which ran the Aigner stores in Mumbai and Delhi (a total of three stores), has shut these through mutual agreement. Aigner entered India in 2004 after tying up with Sports Station India. They set up the first store in Delhi and had plans to open three more in the country. But the partnership didn?t continue beyond 2007. Aigner then signed the deal with Genesis.

Aigner is not the only luxury brand in recent times to end its relationship with an Indian company. The Murjani Group, promoted by Vijay Murjani, parted ways with luxury brands such as Gucci, Bottega Veneta and Jimmy Choo as part of its plans to shift its focus to premium retailing from luxury retailing. Bottega Veneta and Jimmy Choo are now with Genesis.

Genesis has plans to open more stores under its luxury portfolio, including Jimmy Choo, Bottega Veneta and Just Cavali. It?s looking at 10 to 12 stores each for these international luxury brands over the next three to five years. Also, 100 Tie Rack Landon stores and 50 Satya Paul accessory stores will be opened over the same period. The company is aiming to be a Rs 1,000 crore company in the next five years.

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