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March 29, 2012

Unisex salons to keep growing

Business Today has an article on the trend.

A recent report by PricewaterhouseCoopers, or PwC, and the Federation of Indian Chambers of Commerce and Industry pegged the size of the salon business at Rs 7,000 crore. Rashmi Upadhya, Managing Consultant, PwC, says the industry could double in size in three years. "



...Besides Indian chains, global ones, such as Toni&Guy and Saks, are making their presence felt. JCB Salons' Manwani says the Indian salon industry is changing rapidly. "Earlier, salons took 12 months to break even. Now it's four months." Each of JCB's five salons makes an average of $1 million (Rs 5.3 crore) a year. While demand is no problem, what could stand in the way of salon chains' expansion is the lack of skilled stylists. To get around it, they have their own academies, whose graduates start with salaries of Rs 10,000 to Rs 20,000 a month, plus commissions and tips.


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