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Health and beauty retail segment is riding the growth wave as organised brands are reaching every nook and cranny across the country. Read on to find out about the health & beauty retail leaders we have handpicked for the potential investors.
Like other sectors, franchising in India’s health and beauty retail segment is growing exponentially. Whether it’s about looking good or taking precautionary measures to stay away from chronic diseases, the industry has certainly saw a gradual transition toward organised retail formats. In fact, e-commerce is also regarded as the perfect platform for retailing brand’s products.
The market of health and beauty retail is mainly driven by the factors such as – entry of organised chains, increasing population, rise in spending power of rural and semi urban areas, improvement in the overall healthcare system and altering preferences of consumers all over India. As organised chains in pharmacy and beauty retail sector are opening their exclusive stores in every corner of the country, the proven model of franchising is equally offering numerous business opportunities to prospective franchisees. Take a quick look at the brands that are leading the organised industry and have grown aggressively via franchising.
Apollo Pharmacy has a strong footprint across India with 1,600+ stores. The company had a turnover of Rs 1,150 cores in the last financial year. It is witnessing a consistent demand from the metros and other cities. The brand has been into pharmacy retail since the year 1993. The brand has evolved from purely a pharmacy store to a wellness store.
The Body Shop
The Body Shop is a UK based cosmetic retail chain which is operational in India since 2006 and is now present in almost 40 cities across tier I, II, III and IV cities and towns. The brand recently opened first store in Bihar (Patna) and will soon be available in Jammu and Shillong. The brand plans to take its store count to 150 by 2015. The brand launched its e-commerce business in India in 2013 and is successfully driving the multi channel strategy to increase its reach to consumers in India.
It's an initiative of doctor turned entrepreneur Madhukar Gangadi who set up his first medical store in Hyderabad after returning from the US. The pharmacy retail chain was started with a focus of making healthcare delivery more customer centric. The brand operates more than thousand stores spanning seven states.
According to the consulting firm McKinsey and Company, India's pharmaceutical sector will touch 55 billion USD by 2020 and generics are expected to continue to dominate the market while patent-protected products are likely to constitute 10% of the market till 2015. Experts say, “The profit margin in drug sales ranges from 10-40% which is the major attraction for the new entrants.”
The Rs 29,000 crore ($4.5 billion) Indian cosmetic market is growing briskly and attracting more and more international brands. India's cosmetics market is reportedly growing at 15-20% annually, twice as fast as that of the US and European markets.