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O2 Spa to invest $15 million in expansion | Canindia News

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O2 Spa to invest $15 million in expansion

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CanIndia New Wire Service 0 comments

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Hyderabad, Sep 21 (IANS) O2 Spa, Asia’s largest day spa chain, on Wednesday announced that it will invest about $15 million to expand its footprints in 13 more cities in India.

Currently operating 60 centres across 17 cities, O2 will expand its footprints to 150 outlets across 30 cities by end of the fiscal year.

The expansion plans include addition of about 30 outlets in tier 1 and 60 outlets in tier 2 cities in India and more than 10 outlets abroad.

Claimed to be India’s first organised day spa chain, it has over 4 lakh walk-in customers every year.

“Our rapid expansion over the next one year will give the industry a much-needed boost and propel the growth in the coming years,” said Ritesh Mastipuram, founder and Managing Director of O2 Spa.

Over the last eight years, O2 Spa has been single-handedly championing the cause of making the wellness industry organised, he added.

O2 Spa operates in five different formats — Airports, Malls, Luxury hotels, Standalone Properties and Luxury Trains.

According to Industry reports (wellnessinstitute.com and PWC report), the international wellness industry is estimated to be about $3.4 trillion. The Indian wellness industry is estimated to cross $15 billion in 2016, growing at the rate of 15 per cent CAGR. The Indian Spa Industry is estimated to be $200 million and 80 per cent of it is unorganised.

–IANS

ms/lok/vt

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