Melissa Juried Kriebel
Reliance to Enter Salon Business: The country’s second richest person Mukesh Ambani’s Reliance Industries is already working in many different sectors like fashion, retail, oil etc. Now the company is planning to expand its scope to the salon business. According to a report published in the Economic Times, Reliance Industries is about to buy about 49% stake in Naturals Salon & Spa, the company that holds the largest share in the salon market.
In such a situation, when Reliance enters the salon business, it will give a direct competition to Hindustan Unilever and Lakme. Earlier, Reliance had also invested in a large stake in the cosmetic segment in the last quarter. After this, after the entry of Reliance in the salan sector, major changes are expected in it.
What is the plan ahead for Reliance
According to media reports, Reliance Groom India is in further talks to deal with Salon & Spa. It is believed that the deal may also be finalized soon. It is worth noting that under Groom India, Naturals Salon & Spa operates across the country. According to reports, it has more than 700 spas across the country. With this it has been learned that even though Reliance will buy 49% stake in the company, the responsibility of its operation will remain with the promoters as before. The company is trying to increase the number of its stores across the country by dealing with Reliance. Along with this, more attention will now be given to providing better service to the customers.
Big changes in the salon industry after the Corona epidemic
The sector that has been badly affected by the Corona epidemic is the salon sector. Saline was closed for several months in the Corona epidemic. Due to this the people working in it had to suffer heavy losses. The largest share in this sector is currently in the unorganized sector. According to estimates, the salon industry is worth about 20 thousand crores, which includes about 65 lakh beauty parlors, salons and small shops which operate in small towns and villages of the country.
Now there has been a big change in the way this industry works. Ah, along with grooming, now beauty products are also being added in which Reliance is already working. In such a situation, after the arrival of Reliance, now big changes are being expected here.
read this also-
SBI FD Account Online: Open your FD account in SBI sitting at home! Follow these simple steps to open an account