US-based Marilyn Monroe Spas today said it is foraying in India and has partnered La Vida Investment Holding to franchise spa locations in the country.
The licensing agreement with La Vida for India is the first agreement signed as a part of the Orlando-based luxury salon and spa company's international expansion, it said in a statement issued here today.
"The 10-year master licensing agreement calls for sales of 250 locations in 10 years, with the first units, which will be La Vida owned and operated, expected to open in Delhi and Mumbai during the third quarter of 2017," it said.
According to the Global Spa and Wellness Economy monitor, India is one of the world's largest and fastest growing spa markets, generating over USD 1 billion in annual revenues.
"India is a vibrant market with potentially limitless growth potential driven by its favourable demographics, ongoing rapid expansion of its economy and pro-business climate," Marilyn Monroe Spas Chief Executive Officer Jim Lewis said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
