Nature’s Essence forays into retail

August 28, 2008	(Be the first to rate this story!)  Loading ...
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Beauty and healthcare products maker Nature’s Essence is planning to foray into the organised retail business .It plans to open 100 stores, including 25 company owned and 75 franchisee outlets by middle of 2009. The first three stores would come up in Delhi by September and the rest would follow across the country,” Nature’s Essence Executive Director Saurabh Nanda said. He said the company would set up 6-7 stores each in the four metros, while the other stores would come up in various Tier I and II cities. The company would be investing Rs 10 crore in setting up the stores, while it is looking for another Rs 20 crore as franchisee investment.

The company is aiming to increase its sales by three times this year to Rs 100 crore, up from last fiscal’s Rs 35 crore, on the back of the retail foray and expansion into new export markets, besides doubling its distribution network within the country. It is also investing Rs 12 crore for setting up two new production facilities in Uttarakhand. The new plants, with a combined area of 70,000 square feet, would become operational by end of 2009.

News Published Under:   Retail Market in India |

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