On Wednesday, O2 Spa announced that it plans to invest about US$15 million in expanding its footprints in 13 more cities in India. At present, O2 has 60 centres across 17 cities and has plans to expand its footprints to 150 outlets across 30 cities by end of the fiscal year.
The Asia’s largest day spa chain O2’s expansion plans include an addition of about 30 outlets in Tier I and 60 outlets in Tier II cities in India and more than 10 outlets abroad.
“Our rapid expansion over the next one year will give the industry a much-needed boost and propel the growth in the coming years,” said Founder and Managing Director of O2 Spa, Ritesh Mastipuram.
Over the last eight years, O2 Spa has been single-handedly championing the cause of making the wellness industry organised, he added.
O2 Spa operates in five different formats — airports, malls, luxury hotels, standalone properties and luxury trains.
Claimed to be India’s first organised day spa chain, it has over 4 lakh walk-in customers every year.
According to Industry reports (wellnessinstitute.com and PWC report), the international wellness industry is estimated to be about US$3.4 trillion. The Indian wellness industry is estimated to cross US$15 billion in 2016, growing at the rate of 15 per cent CAGR. The Indian Spa Industry is estimated to be US$200 million and 80 per cent of it is unorganised.