According to Saks India CEO Burzin Daver the salon has close to 2000 customers a month at the flagship store at Bandra. The Andheri outlet which is a year old has crossed 1200 customers a month.
“We are looking to open our third store in Mumbai at Kemps corner. The fourth one will be in Colaba. Then we will move to Delhi in 2014. By that time we would have established a strong foothold in the Mumbai market,” reveals Daver. Saks in India has been growing at 40 per cent.
The hair and beauty industry will continue to grow at 20-25 per cent. There is a lot of potential for several brands like Saks and the home grown ones too. There is a lot of untapped market. The consumers today are very conscious and willing to spend.
Saks is a female centric brand in London. But in India, its a unisex salon. Hair services contribute to 70 per cent of the revenues with beauty pitching in with the remaining 30 per cent. Retail contributes to about 15 per cent of the revenues.
Going ahead Daver has very aggressive plan for Saks in India and is looking at establishing 30 salons in the next three years. “We see a lot of potential for this brand in India. After making our presence with 4-5 salons each in Mumbai, Delhi, Chennai and Bangalore we will be targeting the B cities like Pune and Ahmedabad,” explains Daver.
By Nivedita Jayaram Pawar