NEW DELHI, Mar 17: FMCG company CavinKare aims to open over 200 beauty salons across the country in the next three years as part of its expansion plans.
The Chennai-based company, which runs its salon business under group firm ‘Trends In Vogue’, aims to open new outlets across the country under two brands — ‘Green Trends’ and ‘Limelite’.
“We are targeting to have 350 salons by the end of 2015. We are focusing to expand all over the country,” Trends In Vogue (TIV) Business Head R Gopalakrishnan told.
“We plan to invest around Rs 80 crore of our own funds for the expansion of business,” he said.
The company is looking to increase its presence in North and East India, apart from South India, where most of its outlets are currently located, he said.
TIV operates around 110 saloons, including company-owned and franchises, under Green Trends and Limelite brands.
When asked about the details of the format of stores, Gopalakrishnan said out of total 350 outlets, about 60 per cent would be franchises, while the rest would be company- owned.
Out of the total 110 outlets which are operational at present, 50 are company-owned while the rest are franchises, Gopalakrishnan added.
The overall beauty services market in India is estimated at around Rs 7,000 crore and growing at an annual rate of 20 per cent.
CavinKare has presence in various verticals, including personal care and foods. Its personal care brand portfolio consists of shampoos, fairness creams and deodorant. (PTI)
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