Thailand-based spa products manufacturer Spa Siam will soon set up shop in India in association with Franchise India Holding Ltd (FIHL). The deal will also mark the entry of FIHL in the retail sector.
FIHL currently provides franchise networking solutions for entrepreneurs and businesses. “After franchising, the time has come for us to take the next big step and expand into speciality retailing. We plan to enter various speciality formats, and are starting this process with entry in the beauty and wellness vertical,” Gaurav Marya, president, FIHL, said.
With an initial investment of Rs 200 million, FIHL plans to open around 120 Spa Siam outlets across the country in the next five years. “After spreading our footprint in all major metros, we will target other cities that are growing markets for these kind of products and services,” Marya informed.