Thai Privilege Spa Co (TPS) has sealed a business deal with two Indian conglomerates The Krislon Group, which is involved in the property and garment businesses, to open two spa outlets
Thai Privilege Spa Co (TPS) has sealed a business deal with two Indian conglomerates The Krislon Group, which is involved in the property and garment businesses, to open two spa outlets and Agrigold Group of Industries, a major Indian conglomerate with interests in consumer products, food processing and power plants, would open six outlets in India. The eight spas would be in Visakhapatnam, Mumbai, Hyderabad, Vijayawada, Bangalore, Chennai and Pondicherry. Seven would be under the Thai Privilege Spa brand and one under Sarahn, the sister brand. The company expects to hire about 100 people to operate the eight spas, and to earn 48 million baht from franchise and entrance fees in the first year. The first spa will open by the end of August in a prime residential area in Mumbai. Mrs Surangrat, CEO, Thai Privilege Spa Co (TPS) said the company collected US$100,000 as a franchise fee and $100,000 for an entrance fee for each spa outlet. It would also obtain a royalty fee of about 15% of total revenue in the next two years, and 20% for the following three consecutive years. Over the long term TPS would not only focus on spas but also create other service businesses with its partners in India.Mrs Surangrat said that apart from the two business partners, the company was negotiating with some of the largest property developers in India to buy a Thai Privilege spa franchise. If a deal can be sealed, the company expects to operate another five outlets in India.