Naturals eyeing 3,000 salons in next 3 years

Hair and beauty chain Naturals is looking at 3,000 salons, including 100 overseas, in the next three years as it draws up an aggressive expansion plan to increase its footprint.
The company, which has 350 salons at present, is targeting 650 salons and a turnover of Rs 400 crore by the end of the current fiscal.
The company had reported a turnover of Rs 250 crore in the previous financial year.
"We are targeting 3,000 salons in the next three years in India and overseas and association with 1,000 franchises. We want our overseas network to be around 100 during the period," Naturals CEO & Co-founder C K Kumaravel told PTI today.

All new salons will be based on franchise model, he said.
The company today signed an MoU With Bhartiya Mahila Bank to provide financial assistance to women interested in setting up Naturals' salon.

Commenting on the tie-up, Bharatiya Mahila Bank Chairman and Managing Director Usha Ananthasubramanian said: "Women entrepreneurs need small investment. Women always start enterprises which are small..They need a start-up investment of say about Rs 35-50 lakh."
At present, Naturals has only one salon operational outside India in Sri Lanka.
"We will open 50 salons by the end of this year. Ten salons in Gulf countries will be operational soon," Kumaravel added.