Reliance to invest in Naturals Salon & Spa:
- Reliance Retail will buy Naturals Salon & Spa in Chennai to enter the salon market.
Reliance Industries Ltd.’s retail arm is in talks to buy a 49% investment in Groom India Salons & Spa, the parent company of Naturals Salon.
- Reliance aims to extend Naturals Salon to over 3,000 Indian locations from 700.
“However, the present promoters could continue their operations and Reliance’s money will enable network expansion,” the paper stated.
- The Covid-19 outbreak hardest damaged the Rs 20,000-crore salon industry.
- The negotiations are “nascent,” according to Naturals Salon & Spa CEO CK Kumaravel.