London-based hair styling firm Toni&Guy plans to double its saloons to over 100 in the next three years in the country and wants India to be its second highest contributor in its global fold.
“We have 53 saloons right now and we would double it in next 2-3 years,” Toni&Guy Group Finance Director Rupert Berrow told PTI.
As per its growth strategy, the company would focus on the metro markets and top tier II places through brand Toni&Guy, while it would also promote its sub-brand Essensuals to cater the aspirational class from tier II & III cities, he added.
“We would have our own hair dressing academy in the next 6 to 12 months to bring the next generation of professionals here,” he added.
Berrow further said:”India is our fastest growing market in the world. If we get the number of our saloon double in three years time then India would be our second largest market both in terms of number of saloons and revenue”.
“In terms of number of saloons, India has overtaken Australia as the second largest market but in terms on revenue, it has not because the market in Australia is much long established and the average bill is higher,” Berrow added.
Over expansion, Toni&Guy North India Director Sonali Bhambri said: “Even the existing metro has an appetite to double the count and we can easily reach the target”.
Toni&Guy has three master franchise in India for north, west and south region.
“Essensuals would open in tier II & III cities which are price sensitive at low price point,” Bhambri said adding that number of saloons growing in future would be from Essensuals”.
Established in London in 1963, Toni&Guy operates 300 salons in UK and over 500 salons in 42 countries worldwide. It has a revenue of 200 million a year.