India-based beauty and Wellness firm Kaya is looking to expand its retail network across the country.
The expansion plan will enlist an investment of INR250m-300m ($4.50m- $5.40m), reported The Indian Express.
The company will set up smaller format stores that will essentially merchandise the Kaya products and offer a few skin care services.
Kaya chief executive officer Ajay Pahwa told the website that the proposed investment will be required for the introduction of new retail format, expansion of the clinics, improving technology and repositioning the brand as total skincare solution.
Pahwa added that the company would open a handful of new store by 2012-13 end that will have a broad range of products and deliver a limited range of services.
Talking about Kaya's plans to break-even by 2013, Pahwa said, "Break- even will largely depend on how quickly we want to grow our new format".
"The way we look at it is the second format, it is a smaller format, will allow us to further accelerate the participation in the market in not only in metro cities but will provide us the road map to grow in Tier-II and Tier-III cities in future. It will allow us to penetrate the market better."
"This year we will open four to eight stores, which will be a combination of old and new stores."
Kaya is the wholly-owned subsidiary of Marico Industries and operates 82 clinics in 26 cities across India besides 19 clinics in the Middle East and 2 clinics in Bangladesh with a team of over 280 dermatologists.