Habib's Salons to touch 200 by 2007, enters Indian capital market

Chennai, Sep 21 (UNI) India's leading hair fashion expert Jawed Habib today announced plans to increase Habib's Salon, a chain of hairstyling outlets, from 80 to 200 across the world He was mulling with the idea of entering the Indian capital market to touch the 500 Salon-mark in the next three years.

The company had diluted 30 per cent of its shares to the tune of Rs 35 lakh to invest on more Salons. ''We will use this to expand our Salons from 80 to 200. Ninety per cent of these will come up in India as the demand for quality and branded salons is enormous,'' said Mr Habib.

''We are planning to have 500 Salons in the next three years and JHHBL will raise money through public issue. This will happen sometime towards the end of next year,'' he added.

Stressing on the need for quality salons, Mr Habib who was here on a demo event, said by the end of 2007, the Jawed Habib Hair and Beauty Limited (JHHBL), a private limited company, would expand its Salons to 200 all over the world.

At present 72 of the 80 Salons were in India and located in 27 cities. The other eight were located in London (three), New York (two), Kathmandu (two) and Bangladesh (one).

Mr Habib also announced that the JHHBL would also set up a hair fashion school in Chennai and Ahmedabad soon. ''At present we have schools in New Delhi, Mumbai, Kolkata, Bangalore and Hyderabad. We will have one in Chennai and Ahmedabad to provide quality training in hair fashion, which will be the industry of the future.'' UNI GV JJ SRS HT1725