Sanjay Kapoor's move from food forays to luxury chain Genesis has worked well from him. After the failed multi brand FDI proposal, LVMH brands operate under a single brand luxury store model in India while Genesis operates Canali, Just Cavalli, Paul Smith and Jimmy Choo stores. The current round of funding had competition from Reliance and Parcos.
Genesis is already sitting on funding from new to the field L Capital which owns 25.5% of Sanjay Kapoor's luxury lifestyle investment. L Capital is also a LVMH venture in luxury PE with Arnault of France The new investment will be for Sephora another, Moet Hennessey Louis Vuitton subsidiary
Genesis Luxury Fashions will operate the new Sephora stores operating cosmetics under a multi brand portfolio of skin care, fashion, bath care, perfumes and hair care Groupe Arnault is LVMH owner Bernie Arnaulte's personal vehicle for funding and control over global luxury investments
Genesis brands Paul Smith and Jimmy Choo are still likely targets for Bernie Arnault for investments. It licenses Just Cavalli lines globally. Jimmy Choo PE Towerbrook put it up for sale thru Goldman Sachs and Morgan Stanley in early 2011
Sephora's multi brand selll model is duplicated by another Bernia Arnault operation in DFS which is bdding for a new airport project mall in India India's Luxury market was estimated at $280 mln and growing at 22% by AT Kearney in 2010
