NATURALS, India’s leading hair and beauty salon chain and a pioneer in the beauty services industry, has announced its entry into the Pune and Maharashtra market. Starting with 10 salons in Pune, Naturals is looking at widening its footprint to cover more than 100 salons across Maharashtra, including Mumbai, Navi Mumbai, Thane and other parts of the state in the coming year.
The Chennai-based salon chain, which has about 650 plus salons across India, is on an aggressive expansion plan in an effort to cater to the growing demand for quality and affordable personal care.
The company will be looking to invest about Rs 5 crore for the Pune market. “We have earmarked an investment of Rs.50 lakh for each salon in Pune,” said C K Kumaravel, CEO & co-founder of Naturals, while addressing the gathering at the ‘Business Opportunities & Success of Salon Industry’ event organised by the company. Also present on the occasion were Dr Sunil Rai, vice chancellor, MIT-ADT University and N Subramanian, president, CADD Centre Training Service Pvt Ltd.
The beauty and wellness industry is witnessing an annual growth of 25 per cent year-on-year with additional bandwidth expected in the coming years.
“Having captured a large market share in the states of Karnataka, Tamil Nadu, and Andhra Pradesh, Naturals now aims to expand into Maharashtra. We expect the market potential to expand further at a CAGR of 30 per cent in the near future,” says Kumaravel.
Naturals has plans to open about 90 salons across the state. “The customer requirement is constantly changing and along with it the willingness to spend is increasing. Our salons are positioned in such a way that it caters to about 20,000 people within a locality,” he says.
As a market leader, the company says it periodically upgrades all its salons to keep up with the latest trends. “As a brand leader, we have always been ahead of the market and our current research has identified a massive opportunity in the mid-segment of salons,” he adds.
Naturals has created about 400 financially successful women entrepreneurs of whom almost 80 percent were homemakers who had never held a job before they entered the world of business. “What gives us immense happiness today is not just the number of salons but the fact that Naturals has created more than 450 women entrepreneurs, trained more than 10,000 staff and serviced 40 plus lakh, happy customers,” saysKumaravel.