FMCG player Marico plans to open up to 45 outlets of its beauty and wellness centre Kaya Clinic in the next three years, besides setting up a manufacturing facility for hair care products by the end of this fiscal.
As per an investor presentation by the company, the Mumbai-based firm expects a capital total expenditure of Rs 100 crore for the next three years for opening the Kaya clinics in India and abroad, as well as setting up a plant for hair care products in U ttarakhand, besides other business activities.
Marico Chief HR and Strategy, Milind Sarawate told PTI that the company will invest Rs 50 crore of the total planned expenditure during the period for expanding the Kaya Clinic network.
"We expect Kaya to keep adding around 15 clinics every year. These would include our expansion in India and abroad,'' he said.
Currently, Marico has 73 Kaya Clinics in India and 11 abroad, mainly in the Middle East countries. Sarawate said Marico will set up a plant in Uttarakhand by the end of this fiscal and would produce hair creams, gels and hair oils to cater to the growing market. As per the presentation, it will invest Rs 18 crore on the proposed unit.
"Marico has a market share of 22 per cent in this segment. The intent will be to gain market share through the introduction of newer variants as also increasing the efficacy and reach of the existing portfolio,'' Sarawate said.
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