FMCG major, Marico, plans to launch its beauty and wellness chain, Kaya in the Middle—East by opening 4—5 clinics in the region in FY 11.
“We are planning to open 4—5 Kaya clinics in Saudi Arabia and the Middle—East in FY 11,” Marico’s Chairman, Mr Harsh Mariwala, told reporters on the sidelines of a CII—meet here on Tuesday.
However, the company has no plans for domestic expansion next fiscal.
“We are not expanding in the domestic market in the next fiscal,” he said.
Presently, there are 101 Kaya skin clinics in operation in India as well as in some foreign countries. The Marico Chief said that he expects the Kaya business to break—even in the next two—years.
On his other business plans for FY 11, Mr Mariwala said the company plans to set up two manufacturing units in Himachal Pradesh but did not divulge any details.
Marico expects about 8—10 per cent volume growth across its product categories in the coming financial year, he said.
Source: The Hindu Business Line