Hair replacement company Advanced Hair Studio India plans to invest around Rs 200 crore in the next three years to strengthen its presence in the country,a top company official said today.
The company is a part of London-headquartered USD 2.3 billion Advanced Hair Studio.
The company would also investment Rs 50 crore to enter Sri Lanka,Dubai and Bangladesh markets,Advanced Hair Studio India CEO Sanket Shah said.
“We will invest around Rs 200 crore to open stores in other parts of the country and Rs 50 crore to make investments in other parts of the world — Dhaka,Dubai,and in Colombo,” he told reporters after opening of the company’s first showroom here.
The showroom is spread across 15,000 square feet.
The company which entered India in 2007,operates about five studios in Mumbai,Delhi,Bangalore,Hyderabad and Chennai.
The hair replacement market is seeing huge growth,he said,adding that the company would open more stores in Hyderabad,Pune,Chandigarh and also in Colombo later this year.
Advanced Hair Studio India reported around Rs 70 crore revenue last year and expects to touch Rs 100 crore this year.
“By 2015,we are expecting to reach Rs 500 crore,” he said.
He said they are talking to an entrepreneur in Sri Lanka for a joint venture company for operations in Colombo. They would adopt a similar strategy for expansion in other markets.
AHS has about 72 per cent market share in Australia and services offered in India are comparatively 50 per cent cheaper than offered in Britain.
Australian cricketer and AHS Brand Ambassador Doug Bollinger inaugurated the store in here today.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines