The company proposes to open 100 outlets across the country by then from the present 22. Of this, 90 per cent would be company-owned.
It is weighing various options including a private equity placement to raise the required funds, Munish Bhalla, chief operating officer of Osim India, told Business Standard. Osim India is a part of Delhi-based Paramount Surgimed Limited, the master franchisee of Osim International for India and Nepal.
Inaugurating Osim's first store in Andhra Pradesh at Hyderabad on Thursday, Bhalla said the company was looking at opening shop-in-shops in upmarket areas like Hitec City before expanding its footprint to other potential centres such as Visakhapatnam and Vijayawada.
"In all, the state would have five outlets, each having a carpet area of 1,000-1,500 sft, in the next two years," he added.
The market for lifestyle, health and fitness products is currently pegged at Rs 5,000 crore in India, of which healthy lifestyle products such as foot reflexology, oscillating belt, massage chairs, vibration massage chairs and eyecare massagers constitute Rs 1,000 crore. The market for such products in Andhra Pradesh is Rs 500 crore.
The company today launched Osim uPilot, a designer massage chair priced at Rs 3,69,000, and Osim uSqueez, a foot massager priced at Rs 23,000 in the Indian market.
"We propose to sell 250 designer massage chairs and 5,000 foot massagers this year, of which 600 units are expected to be sold in Andhra Pradesh alone," Bhalla said.
Osim India also distributes French female fashion brand Axara in the country and currently has three outlets in the north. "The fashion brand outlets are still in the incubation stage. Our focus now is only to propel the Osim brand," he said.
Osim India recorded revenues of Rs 50 crore in the last financial year. It expects to close the current fiscal with Rs 75 crore.
