Richfeel looks to double turnover in next three years

Richfeel that runs a chain of hair and scalp clinics is aiming to double revenue to Rs 200-250 crore in the next three years and plans to add 42 centres in the next 2-3 years as part of its expansion strategy.
"We have 83 clinics across India. We should be about 125 clinics in the next 2-3 years. We also plan to enter the Gulf region in two years. The Gulf will be our first overseas presence. We will begin with two clinics in Dubai and take it forward from there to the UAE. We should be in Dubai in 2018," Richfeel founder Apoorva Shah told PTI.

He added that each clinic entails an investment of Rs 50 lakh.
The city-based company has invested Rs 40 crore in the last four years and is looking to raise Rs 60 crore to scale up.
"We would be looking at a Rs 60 crore fund raising to take forward our expansion plans and double the turnover from Rs 100 crore to Rs 200-250 crore in the next three years," Shah said, adding that the company will start the fund-raising process from October.
The company, which derives 80 per cent of its revenues from the services division and the rest from personal care, has been growing at 25-30 per cent and plans to go public in 2019.

Richfeel has registered nine products in the skincare segment in the European Union and will look at selling these products in the Scandinavian countries from October.