?Sanghvi plans to double its revenue by FY17

Sanghvi Brands, known for its international wellness brands, is planning to double its revenues by March 2017 through its spa and salon business.

It operates international wellness brands, which includes L'Occitane spa, ELLE spa and salon and Warren Tricomi salon in India.

It is also planning to launch four new international lifestyle and wellness brands in the country by the end of this fiscal year.

The Pune-based brand has also owned the on-demand beauty service brand MyGlamm.com and is also going to launch Rossano Ferretti, an Italian hair spa and salon, in Delhi soon.

As per reports, Darpan Sanghvi, Managing Director, said, "There are a few more launches which are planned for November and December. The plan is to add four new brands to our portfolio by March 2017."

He further added, "We have been growing at a CAGR (compound annual growth rate) of about 65% for the past four years. By the time our international locations go live; we hope to cross Rs.100 - Rs120 crore in revenue from spa business. Growth for MyGlamm is on-track. We are expanding to new cities and launching our own product line as well."

It currently operates 30 spas in India and is planning to make it to count 50-60 by the end of next year.