The first few units will be owned and operated by La Vida.
The luxury hotel spa and resort spa operator – Marilyn Monroe has announced that it has partnered with La Vida Investment Holding Pvt. Ltd. to franchise its Marilyn Monroe™ Spa in 250 locations across India with the first two expected to open in Delhi and Mumbai during the second half of 2017.
According to a press release, the move of the company to enter India is part of the fresh approach to reach out to vibrant market in India which has limitless growth potential.
“India is a vibrant market with potentially limitless growth potential driven by its favorable demographics, ongoing rapid expansion of its economy and pro-business climate,” said Jim Lewis, CEO of Marilyn Monroe Spas.
Marilyn Monroe has inked a 10-year agreement with La Vida for sales of 250 Marilyn Monroe Spa locations with the first few units to be owned and operated by La Vida.
“Marilyn Monroe holds an iconic status there as she does in most areas of the world, giving us great confidence that working with our local partner La Vida and its franchisees will establish Marilyn Monroe Spas as India’s leading spa and salon destination,” Lewis added.
The agreement between Marilyn Monroe and La Vida is the first international agreement of Marilyn Monroe with several others being explored. The company is also planning to make inroads into markets including Canada, China, Dubai and several South American markets.
“A key reason for our company’s significant investment in the iconic Marilyn Monroe brand is its immediate recognition and unique association with timeless beauty and glamor across all key global markets,” said Al Weiss, Chairman of Marilyn Monroe Spas.
“Today’s announcement is the first of many we will be making as we execute our international franchising program, which is a major component of Marilyn Monroe Spas’ growth plan,” he added.
According to the Global Spa & Wellness Economy monitor, India is already one of the world’s largest and fastest growing spa markets, generating over $1 billion in annual revenues. The overall beauty, grooming and cosmetic industry in India has been projected by the industry organization ASSOCHAM to grow from $6.5 billion today to over $20 billion by 2025.
La Vida Investment Holding is a diversified Indian company with operations spanning Hospitality Real Estate, Management Consulting, and Information Technology.