FMCG player Marico Ltd is streamlining its Kaya Skin Clinic outlets in India to cut losses and it does not expect its beauty service arm to break even till the next financial year.
In the quarter ended March 31, 2010, the company’s Kaya Skin Clinic had incurred a loss of Rs 5.3 crore, although its revenue was Rs 45 crore.
“Kaya India has streamlined its clinic network in India (with) five clinics relocated and one clinic closed with effect from June 30, 2010,” Marico Limited Chief (Finance, HR and Strategy) Milind Sarwate told PTI in an email response.
However, in an analyst conference after the fourth quarter 2009-10 results, he had said, “Being a retail business, over the life of Kaya Skin, you could have other clinic closures or clinic relocations in say FY11 or FY12.”