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Habib salon chain plans international expansion
Thursday April 19, 2012 08:24:52 PM,
IANS
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Kolkata: Salon chain
Jawed Habib Hair & Beauty Limited (JHHBL) is planning to expand
business internationally and venture into haircare products to
increase profitability.
"We will open our first overseas salon in Singapore in June, which
will be followed up by three more salons in London," chairman
Jawed Habib told mediapersons here.
The company is also planning to open 5,000 salons across the
country in the next few years. "All of them will be based on
franchise model," Habib added.
At present, JHHBL has 312 salons and 45 academies in India. The
company is currently opening approximately eight salons a month.
The salon industry is pegged at around Rs.7,000 crore and it is
growing at a compounded annual growth rate of 35 per cent.
About diversifying into the product segment, JHHBL Executive
Director Rohit Arora said the company will have the advantage of
moving from services to products, just as salons like Lakme and
L'Oreal had moved from products to services.
He said among all the regions of the country, West Bengal is the
most revenue-generating, followed by Hyderabad and Gujarat.
The company is planning to open premium salons in several parts of
the state, including Haldia, Kharagpur, Malda, Barasat,
Barrackpore and Behrampore.
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