Emami plans foray into health and wellness segment

Kolkata-based Emami  today said it is looking to enter new business segments such as wellness centres, spas and health clubs.

"We are currently evaluating to get into a gamut of new businesses that are in alignment with our existing business of Ayurveda products and expertise," Emami Director Harsh Agarwal told PTI.

He, however, did not give details on the timeline and the investments planned by the company to explore new avenues.

"It's not that we are entering the new segments immediately. Currently its is under study," he added.

In an announcement to the Bombay Stock Exchange, Emami said it is seeking shareholders approval through a postal ballot to enter the new segments.

"Considering the company's strong Ayurveda heritage and research and development capabilities, Emami is exploring opportunity of setting up wellness centres, herbal gardens, residential complexes, ayurvedic museums, tourist facility, hotels, spas, independent cottages and yoga centres," the company said.

The results of the postal ballot will be declared on October 22, it added.

With the acquisition of Zandu in 2008, a century-old ayurvedic company, Emami's ayurveda resources have increased significantly, it added.

Emami Group is a diversified business conglomerate doing businesses in fast moving consumer goods, newsprint, hospital, edible oil, bio-diesel, realty, ball pen tips manufacturing, cultivations and contemporary art, with an annual turnover of about Rs 3,000 crore.