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Reliance Retail may buy 49% stake in Naturals Salon -; Spa

  • India Infoline News Service |
  • 04 Nov, 2022 |
  • 9:21 AM

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.

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