Nature’s Essence Pvt. Ltd., a New Delhi-based manufacturer, exporter and importer of a wide array of skin, hair and body care products, is foraying into organised retail. It plans to set up a chain of 100 beauty salons cum sales centres at an investment of Rs 30 crore, two-thirds of which will come from franchisees.Following a mixed ownership model of company owned and franchisee stores, the brand hopes to launch about 25 owned and 75 franchisee stores across the country over a period of nine-odd months by mid-2009. While the company plans to open 6 to 7 store in each of the metro city, it hopes to set up 75 franchisee owned stores in tier I and II cities.
“We would be opening 100 stores, including 25 company owned and 75 franchisee outlets by middle of 2009. The first three stores would come up in Delhi by September and the rest would follow across the country,” said Saurabh Nanda, Executive Director, Nature’s Essence, while speaking to PTI.
The beauty products player post retail expansion and export initiatiaves is aiming to increase its existing turnover of Rs 35 crore to 100 crore. The turnover is also targeting a further five-fold jump in its sales to Rs 500 crore by 2010-11.
“This year we are aiming for an annual sales of Rs 100 crore, up from the Rs 35 crore last fiscal, and take it to Rs 500 crore in three years,” said Nanda. “We are hoping for a sale of Rs 15-20 lakh from each store by end of one year period,” added Nanda.
1 lakh= 100,000
10 lakhs= 1 million
1 crore= 100 lakhs
1 crore= 10 million
100 crore= 1 billion
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