Naturals, the nation’s largest salon chain has decided to invest Rs 100 crore for a controlling stake in Vyomo, an aggregator of beauty salon doorstep services funded by cricketer Yuvraj Singh.
After the acquisition of Vyomo, the brick-and-mortar based Naturals will get an entry into app-based on-demand beauty services space. Vyomo will be renamed as Naturals@Home. The exact stake that Naturals got under the deal is yet to be disclosed.
Naturals has close to 550 salons in 80 cities. It had set up operations in 2000 in Chennai, has a target to have 3,000 salons by 2018 and more than 10,000 by 2025.
An aggregator of salons, spas and stylists, Vyomo operates on a similar platform as that of taxi aggregators such as Uber and Ola. The Bengaluru-based tech-enabled hyperlocal startup, has a presence in five cities.
The Rs 100 crore that comes from the deal will be used to develop technology and expand aggressively to meet customer demand. The management at Vyomo won’t change, and the board will have representation from both entities.
Post the deal, Vyomo plans to extend its reach to 80 cities over six months, capitalising on the operational strength of Naturals.