According to a KPMG report, the size of India's beauty and wellness market is expected to touch $13 billion in 2018. This includes the beauty products, beauty salon and spa businesses.
Sanjeev Pratap Sinha, a professional turned first generation entrepreneur has announced the acquisition of ADARA, a two-year-old Beauty & Wellness Spa in Gurgaon. With beauty and wellness industry booming in India and with tremendous potential for growth in the coming years, Sanjeev has embarked on a journey to build a portfolio in the Hospitality & Wellness sector.
According to a KPMG report, the size of India's beauty and wellness market is expected to touch $13 billion in 2018. This includes the beauty products, beauty salon and spa businesses. India is also the second largest consumer market in the world.
As to why ADARA was chosen, Sanjeev said, "Simply because the vision of the brand resonates with my mindset. The Hospitality sector is all about commitment, enthusiasm & customer satisfaction. While it can be true for nearly every business, this industry relies entirely on customer’s being happy. ADARA’s focus so far has been towards providing ‘the best’ in every aspect. Right from walking into the end, the journey of a guest at ADARA is always delightful."
When asked about his vision for the brand, Sanjeev is determined to build ADARA into one of the leading luxury wellness brand in its respective industry. The entrepreneur also has plans to up the ante when it comes to providing a luxuriously endearing experience for its guests. Current mergers and acquisition trends are driven by fast value creation by the purchase of niche and luxury brands. Without going into the details, Sanjeev says that he plans on growing ADARA starting from Gurgaon itself and regionally moving towards a Pan-India expansion.
After a successful stint of 18 years of experience in the financial services industry both in India and South East Asia, Sanjeev had started his entrepreneurial journey in 2011 with three ventures in the real estate and hospitality space and has seen tremendous growth in each of them. One of his firms Bela Fasonado is the fastest growing design firm in the country. His recent strategic investment in “Quorum”, a private members-only urban lifestyle club in Gurgaon shows his prudence & fascination for the hospitality industry. He is also on the board of a Hospitality REIT fund in the United States, looking at acquisition targets in India. This doesn’t end here. The serial entrepreneur who is an investor & a sportsman plans to keep growing his existing businesses while continuing to invest in new ideas. His latest pursuit ADARA is another feather in his cap, earning him the distinction of being a stalwart in the industry.