Chennai-based Venus Spa & Salon, that runs 'Naturals' chain of salons, will invest Rs 125 crore in the next three years to open 250 outlets across the country within the Bharti Retail's 'easyday' retail outlets.
"We will open 250 outlets across the country in next three years within easyday stores of Bharti Retail. We will be investing around Rs 50 lakh per store," Naturals Co-Founder and MD CK Kumaravel told PTI.
The company has entered into a revenue sharing agreement with Bharti Retail under which 15% of the revenues will go to Bharti Retail for first three years after that it will be 20%, he added.
"All the 250 salons at easyday stores will be will be completely owned by the company," Kumaravel said adding as per the agreement with Bharti Retail the new Natural outlets could not be franchished.
At present Venus Spa & Salon has 134 stores out of which only 14 are company-owned while the rest are under franchise model, he added.
The firm has entered the North Indian with the opening of its latest salon in Ghaziabad at the easyday store last week.
It is also planning foray in to the overseas market and aims to open ten salons by the end of March 2013.
"We will be opening salons in Dubai, Singapore, Colombo and in South Africa," he added.
