Reliance Retail To Step Into Salon Business By Acquiring Naturals: Report An executive aware of the matter told ET that the company is in the final stages of acquiring about 49 per cent stake in Groom India Salons & Spa, the parent company of Naturals salon
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Reliance Retail is in talks to buy a 49 per cent stake in Naturals Salon & Spa, adding the salon business to its portfolio, said a report by the Economic Times (ET).
The company will directly compete with Hindustan Unilever's Lakme and other brands like Geetanjali.
An executive aware of the matter told ET that the company is in the final stages of acquiring about 49 per cent stake in Groom India Salons & Spa, the parent company of Naturals salon. The existing promoters of Naturals Salon-parent, Groom India Salons & Spa, could continue running operations and Reliance's funds would help expand its network of 700 salons in 20 states by four- to five-fold, the Economic Times had earlier reported.
"Reliance Retail is yet to acquire the 49% of Naturals' stake," said CEO CK Kumaravel, Naturals Salon & Spa, quoted the ET report.
Chennai-based Naturals, founded in the early 2000s, aims to run 3,000 salons, empower 1,000 women entrepreneurs and create 50,000 jobs by 2025, the company said in its website. C K Kumaravel is known for his commitment towards women empowerment as he often talks about the same in his social media posts.
With the Covid-19 induced lockdown, salons were among the hardest hit businesses at the height of the pandemic. However, with the lifting of curbs, salon business is bouncing back again. The reopening of offices can be attributed as a major contributor.
With two decades of experience, Naturals has revolutionized the beauty and franchising industry with over 650-plus salons spread across India. Naturals has created 400 women franchise partners and trained over 10,000 staff till date.
