Nature’s Essence, one of the country’s beauty and healthcare products manufacturer, has planned to enter the organised retail business by opening around 100 salon-cum-retail centres across the country.
Explaining the company’s plan, Saurabh Nanda, executive director, Nature’s Essence, said, “Among the 100 stores, 25 will be company owned and the other 75 franchisee outlets. The first three stores will come up in Delhi by the end of September this year and then the other stores will be opened countrywide by mid-2009.”
“The company will set up around seven stores each in the four metros, while the other stores will be in tier I and II cities,” he added.
The company is also aiming at an expected sale of around Rs 100 crore in this fiscal, up from last fiscal’s Rs 35 crore from its retail and export markets, and targets Rs 500 crore by 2010-11.
“We are hoping for a sale of Rs 15-20 lakh from each store by the end of a one year period,” he said.