Salon and beauty retail chain Jean Claude Biguine Salons India, also known as JCB Salons, has raised Rs 40 crore from investment firm BlackSoil. Expanding into the Indian retail sector, JCB Salons has used the capital to acquire local business Spalon.
“The beauty and grooming sector is the next billion-dollar global opportunity in India,” said BlackSoil’s director and co-founder Ankur Bansal. “JCB Salons is building a robust model for India’s new-age beauty and wellness-conscious crowd, and the acquisition of Spalon amplifies its business prospects. We are excited to have partnered with JCB Salons in their ambitious pursuit.”
JCB Salons also plans to use the investment for working capital purposes as well as enhancing operational efficiencies. The business already counts addresses in Mumbai, Bengaluru, and Pune and now has access to Spalon’s network of 27 branches across South India.
“With increasing aspirations and purchasing power, we are optimistic about the spa and salon business growth in the coming years,” said JCB Salons India’s founder Sneh Koticha Contractor. “Currently, with strongholds in West India, we are keen on integrating Spalon’s established network and strong legacy into our portfolio to expand to South India, a region we are extremely excited about. We are thrilled to partner with BlackSoil and use their expertise to deliver high business output and growth.”
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