Reliance Retail may have plans to enter the salon industry and is in talks to purchase roughly 49% of Naturals Salon & Spa in Chennai. This will put it squarely in competition with Hindustan Unilever's Lakme and regional brands like Enrich and Geetanjali.
According to news reports, it is close to forming a joint venture by buying a 49% part of Groom India Salons & Spa, the organization that owns Naturals Salon & Spa.
There are around 6.5 million salons and beauty salons in India's Rs20,000 crore salon market. It was one of the most severely affected areas of the Covid-19 outbreak when the CEO of Grooms India Salon & Spa posted on social media asking the government for financial assistance to keep the two-decade-old company viable.
Additionally, Reliance Retail intends to launch independent beauty supply outlets. It purchased a majority stake in Mayuri Kumkum, the business that owns and runs Insight Cosmetics, last quarter.For feedback and suggestions, write to us at firstname.lastname@example.org
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