Osim charts Rs 100cr expansion in India

The company proposes to open 100 outlets across the country by thenfrom the present 22. Of this, 90 per cent would be company-owned.It is weighing various options including a private equity placementto raise the required funds, Munish Bhalla, chief operating officerof Osim India, told Business Standard. Osim India is a part ofDelhi-based Paramount Surgimed Ltd, the master franchisee of OsimInternational for India and Nepal.

Inaugurating Osim's first store in Andhra Pradesh at Hyderabad onThursday, Bhalla said the company was looking at openingshop-in-shops in upmarket areas like Hitec City before expandingits footprint to other potential centres such as Visakhapatnam andVijayawada. "In all, the state would have five outlets, each havinga carpet area of 1,000-1,500 sft, in the next two years," he added.

The market for lifestyle, health and fitness products is currentlypegged at Rs 5,000 crore in India, of which healthy lifestyleproducts such as foot reflexology, oscillating belt, massagechairs, vibration massage chairs and eyecare massagers constituteRs 1,000 crore. The market for such products in Andhra Pradesh isRs 500 crore.

The company today launched Osim uPilot, a designer massage chairpriced at Rs 3,69,000, and Osim uSqueez, a foot massager priced atRs 23,000 in the Indian market. "We propose to sell 250 designermassage chairs and 5,000 foot massagers this year, of which 600units are expected to be sold in Andhra Pradesh alone," Bhallasaid.

Osim India also distributes French female fashion brand Axara inthe country and currently has three outlets in the north. "Thefashion brand outlets are still in the incubation stage. Our focusnow is only to propel the Osim brand," he said.

Osim India recorded revenues of Rs 50 crore in the last financialyear. It expects to close the current fiscal with Rs 75 crore.