Core Wellness to tap the growing spa market

Operated under the brand Sohum Spa and Wellness Sanctuary, Core Wellness Ltd is all geared up to set up 20 spa units across India, mostly through franchise models. The company would set up around 12 units at five-star hotels while the rest would come up as stand-alone units. As the spa industry is catching roots in India, the company is looking at launching the spa units in prominent Indian cities over next 18 months.

The company is targeting premium clubs in cities like Ahmedabad, Indore and Gwalior apart from the five star hotels to set up its outlets. The first franchise agreement would be signed soon and the unit would be operational in six months. The required workforce would be generated through a training academy set up by the company in Juhu in Mumbai. The company had generated revenue of Rs 6 crore during the previous financial year.

Presently Sohum Spa and Wellness Sanctuary have spas at three hotels and one stand-alone facility in Mumbai. It recently launched its stand-alone unit in Pune. Apart from the first two, rest would necessarily operate on franchisee model. The investment is around Rs 2 crore for a setting up a unit of 3,000sq feet. A recent study by FICCI has suggested, the Indian wellness industry is growing at a rate of approximately 20 per cent annually and currently stands at Rs 1,500 crore.