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Kolkata, Jun 24: Singapore-based $5 billion OSIM International Ltd is planning to set up another 100 exclusive brand outlets (EBO) in India as it is eyeing a six-fold increase in turnover for its Indian arm in the next four years.
The healthy lifestyle product major has 22 EBOs in the country, 62 points of sales (PoS) including shop-in-shops.
"We are eyeing a turnover of Rs 300 crore by 2012," said Shaily Grover, managing director of Paramount Surgimed Ltd. Paramount tied up with OSIM in 2004 through a master franchisee agreement to form OSIM India. The Indian arm clocked a turnover of Rs 45 crore in 2007-08 and is targeting Rs 75 crore by 2008-09.
Osim India , with a range of almost 35 categories of products, is present in health and fitness equipment verticals in the country. Health vertical contributes to the company's major chunk of earnings, well in tune with its global business.
While the product portfolio includes foot reflexology products, handheld massagers, eye care massagers; foot massager is the biggest contributor to its revenue. "We are planning to launch 4-5 products per year for the next couple of years," Shaily said.
While the price for the premium market products like massage chair ranges from Rs 1.10 lakh (Noro Melody) to Rs 3.69 lakh (U Pilot), mass market products like foot massager, eye massager and slimming & toning belts range from Rs 300-23,000.
"Products like massage chairs are not meant to replace walking or exercise, but help to rejuvenate, relax and soothe the body and mind of the user," Shaily said.
Present in 28 countries across the globe, OSIM International is likely to launch new products in the health and fitness verticals soon.
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