Mumbai: Homegrown consumer goods major Marico’s beauty and wellness arm, Kaya, which had reported a turnover of Rs 239 crore last fiscal, expects to be a Rs 500 crore company in the next three to four years and breakeven within the next 24 months, a top company official said.
“In the next 3-4 years, Kaya aspires to be a Rs 500 crore company,” Kaya chief executive Ajay Pahwa told PTI here.
The company is also eyeing a 15% revenue growth this fiscal, Pahwa informed. The company had incurred a loss of Rs 2.30 crore in the last financial year.
Started off in December 2002 with the first clinic at Mumbai’s Bandra area, today the Kaya Skin Clinic chain runs 82 clinics across 26 cities in the country, besides 17 in the Middle East, two in Bangladesh and four clinics and medispas in Singapore and Malaysia, through its Singaporean subsidiary Derma Rx.
Kaya had earlier forecast that it would breakeven in the next 24 months and with the addition of the Derma Rx business in Singapore as well as Kaya in the Middle East, it is confident of meeting the target, Pahwa said.
Kaya, a wholly-owned subsidiary of Marico, recently completed acquisition of the aesthetics business of the Singapore-based Derma Rx Asia Pacific (Derma Rx) and is now planning to launch a full range of skin care solutions from Derma Rx in the Middle East too.
“We have successfully launched the Derma Rx products in the domestic market and the customers love it. We will be launching the products in the Middle East by the last quarter of this fiscal year,” he said.
With profitability in mind, Kaya is planning only cautious expansion with four to six clinics a year, he said.
“Our bigger focus has been driving up revenues from the existing stores, and we see huge potential in them. We are expanding very cautiously with fresh investment of about Rs 15 crore annually.”
Going forward, the focus of expansion will be malls, Pahwa said, as customers are very impulsive at malls. “This is still early days so we need to watch this space before we take a call on it,” he said, adding the company had recently opened a centre in the Pacific Mall in Delhi and will open another in Whitefield in Bangalore.