Bangalore-based healthcare and education major Manipal Group will launch its healthcare retail venture with two outlets in Bangalore and Ahmedabad in July this year, under the brand name Manipal Cure and Care (MCC).
The Manipal Education and Medical Group (MEMG) said the initial investment will be Rs 50 crore. Dr Ranjan Pai, CEO, MEMG, said MCC outlets will have two formats. Shop-in-shop, about 3,000 square feet in size, will be established across malls and hypermarkets; and Club Class, about 7,000 square feet, will be standalone outlets on high streets. The outlets will offer healthcare product and services with a focus on preventive, wellness and beauty.
During the current year, 10 outlets will be launched in tier I cities including Mumbai, Pune and Hyderabad. The company plans to have 50 outlets across India in the next four years. It expects to earn revenues of Rs 50 crore in the first year.
For the record, the company was in talks with Pantaloon Retail India Ltd (PRIL) for a potential partnership. That did not materialise, though. “With the kind of experience that Pantaloon has in retail, we were very keen on partnering with them, but we did not want our outlet to be pushed to the fourth floor of a building. We wanted it in the front section of a mall or supermarket. When that did not work out, we parted ways with them,” said Pai.