Blacksoil, an alternative lending platform, has contributed Rs 40 crore ($4.8 million) to salon chain JCB (Jean Claude Biguine) Salons India.
Do you know top salon brands in India.
In order to expand into South India, JCB Salons used the money to buy the locally owned salon chain Spalon, the firm announced in a news statement. The funds will also be utilised to improve the group’s operating efficiency and provide working capital.
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The combined company seeks to establish a presence in West and South India markets by fusing JCB’s experience with Spalon’s grasp of the local market.
JCB Salons has raised around $19 million, or Rs 157 crore, with the support of RARE Enterprises, the late Rakesh Jhunjhunwala’s investing company.
There are about eighteen salons run by JCB Salons across Bengaluru, Pune, and Mumbai. The business states that it serves 1,500 clients each month. With 400 salons and spas, it operates in 20 different countries worldwide. Over 27 locations of the spa and salon brand Spalon can be found across Southern India.
About JCB Salons
Founded in 2006 by Samir Srivastav, The Jean-Claude Biguine experience is all about pulling out hush-hush beauty secrets from the big book of French Fashionscape.
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