Naturals Salon to raise Rs 120 cr to boost international expansion

Naturals, a chain of salons is looking at raising around Rs 120 crore from private equity before March next year. The proposed fund raising is to support company's international expansion and launching new professional products.

The company roped in Veda, a leading investment bank providing focused advisory services to mid-market companies, as an advisor for the proposed fund raising plan. The company has forayed into the international market with a new chain in Dubai. The brand is looking to open 100 salons in Dubai and the five GCC countries in the next three years. It is also at an advance stage of discussion with a master franchisee for the US and is looking to enter the American market by early next year.

Entry into Singapore and United Kingdom is also on the cards. Naturals Co-Founder, C K Kumaravel, said that the master franchisee has been given to Falak Holding, a leading West Asian corporate group until 2025 in GCC countries, including the UAE, Kuwait, Qatar, Bahrain and Oman. As per the agreement in the next 12 months 50 stores will be opened and it will be increased to 100 by 2025 in these five countries. Apart from salons, these stores will have ayurvedic massage and yoga centres.

The Dubai store was inaugurated by Indian cricketer Sachin Tendulkar along with Pakistan cricketer Wasim Akram. Kumaravel said the brand is also eyeing the US, the UK and North African markets where it will have around 100 stores over the next five years. By November plans will be finalised for the US market. The unisex hair and beauty salon chain has 510 salons across India and has set a target of having 3000 salons by 2018.