New Delhi, Aug 5 (UNI) Eyeing the Rs 8,000 crore beauty and wellness market of the country, Franschise India Holdings Ltd (FIHL) today announced its foray into the sector with an intial investment of Rs 25 crore, saying it has also tied up with Thailand's Spa Siam towards this effect.
''We will be investing Rs 25 crore to fuel our foray into beauty and wellness industry and have tied up with Spa Siam of Thailand to set up a chain of beauty and wellness stores in the country. With this, we expect a turnover of Rs 100 crore in the next five years,'' company President Gaurav Marya told reporters here.
During the intial phase, the company will open five Spa Siam centres in the major metros, increasing the number to 75 in the next 18 months, he added.
These lifestyle products are in the price range of Rs 200-2,000, with 100 new products to be rolled out from its kitty very soon.
''Initially all these beauty products will be imported from Thailand, but in the next few years we plan to have a manufacturing facility in the country depending on the level of demand'', Mr Marya said.
With a view to promote its product range, the company is also looking forward to tie up with leading airlines, hotel chains and resorts.
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