Osim, which launched in India with its uber premium range of massage chairs, has expanded its profile with several wellness gadgets. We began by targeting the top 5-7% of the population because that is the segment exposed to premium lifestyle products. The overwhelming response led us to introduce products for the 10-15% aspirational segment of people, says Shaily Grover, MD, Osim India. A staunch believer in Abraham Maslows hierarchy of human needs, Grover is certain of a Rs 100 crore turnover by 2010. The basic and emotional needs of people are fulfilled. Therefore they tend to opt for products that boost their self-esteem and gratify them. Moreover, stress has acquired epidemic proportions. So, theres a clear demand for products that help one relax and rejuvenate, explains Grover.
The fitness frenzy is unmistakable. Euromonitor estimates the health industry in India to be pegged at Rs 1,800 crore. And with a projected 40% growth rate, the future seems equally promising. Take Evavo Wellness for instance. Set up in 2005, it has been registering a 100% year-on-year growth. The brand is best known for Fuji Cyber Relax a chair-cum-recliner based on traditional Japanese Shiatsu massage. Popular perception may consider institutional sales to be higher than retail in this segment, possibly because they are very expensive. However, the balance has changed in favour of the latter. Retail has not only come to power with institutional sales, it is also the fastest growing segment, says Siddharth Shetty, MD, Evavo. Explaining further, Rajiv Walia, CEO of Proline Fitness, says: Retail is going strong because people prefer to buy a foldable treadmill that they can use at their own convenience it costs less than the annual membership of a good gym.
The metamorphosis took its time though. Initially we had to convince people to invest in their own well-being. We are well past that challenge now. It is no longer an indulgence for them. It is a necessary investment. Corporate houses like Airtel and Nokia are buying these chairs for their employees. ITC Welcome Group has it in its top-end hotel suites, adds Shetty.
For Walia it is a lifestyle-driven industry. In little over a decade his turnover has risen from a modest Rs 2 crore to Rs 60 crore. The emerging market has become the guiding force for many like A K Dewan, CEO, Power Plate India. We noticed how people wanted to stay fit and feel good about themselvesbut then time was a luxury for most of them. So, we decided to launch a product that solved this fundamental problem, reasons Dewan. The claim: Work out thrice every week-15 minutes a day to get the same benefits as that of a conventional seven-hour a week workout! The price might come as a dampener though Rs 1.5 lakh on wards.Nevertheless. The bottom line is that feeling good just became easier. Care for some footsie at home Just tap your toe. The deep and powerful percussion action of Osims Foot Revitaliser will do the rest. Suffering from hypertension Check out Resperate. It claims to tap the bodys natural tendency to follow external rhythms and guides them to breathe at a slower pace, thereby dilating the bodys blood vessels and lowering their blood pressure. India has nearly 66 million hypertensives of which approximately 50% are in urban India, says Dr Pascoal A Carvalho, GM, Diagnostic Manufacturing, Nicholas Piramal. Needless to add that for Nicholas Piramal the potential for a product like this is immense.
This is just the tip of the iceberg. Wait till you read about technology treading the surreal path to help you de-stress, enhance your creativity and widen your perception! How Take a journey to your inner self with the Alpha Lounger. Launched by Geo Spa Fitness, a wellness solutions company, the lounger works on the psychotherapeutic potential of the AlphaSphere a visually and acoustically detached retreat from the outside world.
Feeling the itch already