March 17, 2013; CavinKare, the FMCG major as part of its expansion plans is mulling over opening 300 beauty salons in the next three years. According to a statement given by R Gopalakrishnan, Business Head, Trends in Vogue (TIV) to PTI, “We are targeting to have 350 salons by the end of 2015. We are focusing to expand all over the country”. CavinKare which already has beauty salons under the brand Trends in Vogue plans to start more beauty salons under its two brands, ‘Green Trends’ and ‘Limelite’.
The overall beauty services market in India is growing at an annual rate of 20 per cent and is estimated to be around Rs.7,000 crore. CavinKare is planning for a major share of the pie of this huge market. The company which has its base in Chennai has got a good presence in South India and now as part of its expansion is looking to increase its presence in North and East India. A plan to invest around Rs.80 crores for the expansion is in the pipeline.
The company presently has its own outlets and also follows the franchise route. Out of the existing 110 beauty salons nearly 50 per cent are company owned and rest are franchises. For the new 350 outlets, the company plans to have 60 per cent outlets as franchises.
