the 07/17/2008

OSIM India chalksout Rs 50 cr expansion plan in AP

UNI OSIM India chalksout Rs 50 cr expansion plan in AP

Thursday, 10 July , 2008, 14:09

Last Updated: Thursday, 10 July , 2008, 14:30

Hyderabad: OSIM India, leading supplier and dealer of lifestyle andhealthcare products, will infuse Rs 50 crore over the next threeyears to expand its operations and open more new showrooms in thecountry.

Addressing a press conference at its showroom in City Centre Mallhere today, Managing Director Shaily Grover said the companypresently has 22 outlets in India and planning to add 28 more inthe next three years. This would continue till 100 outlets wereopened by the year 2012.

More India business stories | Get the latest Sensex update On its expansion plans in Andhra Pradesh, he said the companycurrently has one showroom in Hyderabad and plans were afoot toexpand to other potential centres like Visakhapatnam andVijayawada.

"With so many big corporate companies, MNCs, IT and ITeS companiesin the city, the market offers a great potential for the products,"he added.

On the occasion, Mr Grover launched 'OSIM uPilot', a designermassage chair, that claims to give full curative effects of atherapeutic massage and is priced at Rs 3,69,000. "We propose tosell 250 such chairs in addition to other range of chairs. Ourtotal chairs target is 1000," he added.

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The other product which was launched today was OSIM uSqueez, a footmassager. Its features, include multi-angle squeeze and wrap aroundsqueeze for personalised calves-ankles-feet massage and is pricedat Rs 23,000.

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OSIM India, a division of Paramount Surgimed Limited is a masterfranchisee of OSIM International Ltd., a Singapore headquarteredcompany with over S$ 500 million turnover. OSIM India imports theproducts under health, hygiene, nutrition and fitness categoriesand caters to its exclusive outlets spread across India.