Enrich Salon, a Mumbai based on-demand beauty service has acquired India Quotient backed Belita. The amount and terms of the deal has been left undisclosed.
Post-acquisition, Belita brand will be merged to Enrich Salon and will provide services under Enrich brand.
Founded in September 2011 by Akshay and Garima Jain, Belita is a Mumbai-based beauty & wellness services company that delivers beauty & spa services to women at the comfort of their home. Belita’s tech platform aggregates beauticians and provide them training as well as quality products, thereby empowering them to serve customers better.
In August 2015, it raised about $377K (INR 2.5 Cr.) in an angel round of funding led by India Quotient and Supreet Singh.
Enrich Salon is currently operational in cities such as Ahmedabad, Bengaluru and Pune apart from Mumbai.
Earlier online beauty and wellness platform Vyomo raised $15 Mn (INR 100 crore) from Naturals, selling majority stake to the company. It was then rebranded to Naturals@Home.
Other major players in this space include BigStylist, Bulbul, Makeoverz, Stayglad and other on demand startups that offer beauty services include Urbanclap, Zimmber among others.
According to a KPMG report, beauty and wellness industry in India will be $13 Bn by 2017 and within MENA region it was $25.5 Bn in 2014 as per the global market intelligence firm Euromonitor International. According to some industry estimates, in a large economy like India, the market size for beauty services pegs around $4.8 Bn and it is increasing rapidly.
