Osim eyes $100m sales in 2 yrs

Osim International Ltd, a Singapore-based lifestyle products brand, is targeting $100 million sales in India in the next two years.

The company has its master franchise with Delhi-based Paramount Surgimed Ltd having 50 shops across India. It is also planning to expand its presence in the country by having 100 shops by 2009.

Lee Hang Yang, business analyst and head (international franchise division), Osim International Ltd, said, "We are paying special focus on our Indian market as it is one of the fastest growing markets. We are aiming to increase our sales here to $100 million within the next two years. At present our sales are between $25 million and $30 million per annum."

To achieve the target, the company plans to add some more shops across India. "At present, we have around 50 shops across the nation. We will add 50 more within two years. These will include showrooms and shops in shops."

This expansion will see two new shops in Gujarat, one each in Rajkot and Surat. The new stores in Gujarat will come up in one-and-a-half year. The company already has its standalone showroom in Ahmedabad and is looking for more tie ups with upcoming shopping malls to open their shops.

Osim International Ltd had recently acquired Brookstone, a US chain store for $ 450 mn and also Singapore-listed company Global Active Limited (GAL), owners of the Asia-Pacific regional GNC network, in 2005.

The company has no plans of making a similar acquisition in India. However, it is not averse to outsourcing work to India.

"The company might think about outsourcing work to India in the service sector," said Lee.