The House-Of-Beauty is all set to open its first salon in Bangalore in November, accoding to a release here. Company Chief Executive Officer Dharmendra Manwani said the partnership would be mutually beneficial. ''Through this initiative, we plan to open 12-15 outlets across India and are excited to offer French expertise to highly discerning consumers everywhere across the country,'' he informed.
Estimated to be worth more than USD 1.5 billion, the beauty market in India is growing at the rate of 25 per cent a year, twice as fast as the US and Europe markets, according to third party sources.
''With an investment of USD 10 million in the partnership, we aim to achieve annual revenue of USD one million,'' he said.
It is indeed the first retail house which has conceptualized to provide a holistic experience to modern consumers, flagging off a significant new trend in the Indian retail fraternity, he added.