Marilyn Monroe™ Spas Establishing Major Presence in India Through a 250 Unit Franchise Agreement with La Vida Investment Holding Pvt. Ltd.
Scale of agreement attests to the power of the iconic Marilyn Monroe™ brand and the quality and opportunity afforded by this powerful new franchise concept
ORLANDO FL. USA and NEW DELHI, IN. March 16, 2017 - Marilyn Monroe™ Spas, the company bringing a fresh new approach to salon and spa franchising under the iconic Marilyn Monroe brand today announced a partnership with La Vida Investment Holding Pvt. Ltd. to franchise Marilyn Monroe™ Spa locations throughout India. The 10-year agreement calls for sales of 250 Marilyn Monroe Spa locations, with the first units, which will be La Vida owned and operated, expected to open in Delhi and Mumbai during the second half of 2017.
“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 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.”
The agreement is Marilyn Monroe™ Spas first international franchise agreement, with several others currently being explored. Other potential international expansion regions currently being explored include 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 glamour 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.”
India accounts for 18 percent of the world's population, second in size only to China. The World Bank predicts India has the potential to be the world's third largest economy within the next 10 years, and Ernst and Young estimates that its middle class will grow from 50 to 200 million people over the next five years. This already large and growing middle class that places a high premium on style and personal care represents one of the world's largest potential markets for salon and spa services. 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. They are a Master License holder in India for Vantage Hospitality Group's Value Inn Worldwide and Value Hotel Worldwide brands in India. The master licensing agreement between Marilyn Monroe Spas and La Vida calls for sales of 250 units in 10 years, and will also include a small number of units owned and operated by La Vida. The partners expect Marilyn Monroe Spa locations to include both stand-alone day-spa locations as well as locations within hotels and resorts, similar to Marilyn Monroe Spas location strategy in the United States. Locations are expected in the major metropolitan areas of India including Tier-I cities like Delhi, Mumbai, Bangalore, Chennai, Hyderabad, among many others.
“The strong, continued strength of the Indian economy, has created strong demand for premium services and experiences by a middle class which will soon exceed 100 million people,” said Jyotirmoy Bose, Executive Director and Group CEO, La Vida Investment Holding Pvt. Ltd. “This is particularly true in the spa and salon segment, which is what drove us to capitalize on this iconic brand and outstanding franchise concept by establishing 250 Marilyn Monroe Spas in India. We are proud to carry forward Marilyn's timeless legacy in such a visible way into the world's most dynamic emerging market.”
“Marilyn Monroe is globally recognized as one of the most famous female celebrities of all time. Her unique blend of beauty, talent and humor has an enormous influence on pop culture, resonating with millennials who make up nearly 85% of her fan base,” said Corey Salter, Executive Vice President of Celebrity and Entertainment, ABG, owner of the estate. “We are thrilled to be expanding this partnership throughout India, a country whose population makes up approximately 3% of Marilyn's social following and one in which Marilyn Monroe remains a constant trending topic on Twitter.”
Created and led by hospitality industry veterans and former Walt Disney executives, Marilyn Monroe™ Spas, is emerging as one of the most exciting partnership opportunities in the salon and spa industry. With roots in resort spas it has completely reinvented the salon and spa experience by providing modern, beautiful, clean environments and distinctive services. The iconic Marilyn Monroe™ brand stands out in a highly fragmented salon and spa industry due to the association with one of the most recognizable icons in the world. Marilyn Monroe is known not only as the most glamorous woman of all time but also as an enduring pop culture icon. Marilyn Monroe Spas launched in 2014 with company-owned locations across three concepts, and has since evolved those concepts with the utmost integrity and attention to location, operations, marketing, and product.
The company currently operates luxury spas in California, Florida, Hawaii, and New York, as well as its large and small format spas, both directly and franchised, in California, Florida and Texas. Marilyn Monroe Spas began development of its franchise offerings in 2015 and received highly positive reactions to its concepts in initial marketing, as well as its assessment of total worldwide market opportunity for the model. In the United States alone, the salon and spa industry is a vibrant and growing segment of the economy, with annual sales of $48 billion. The industry has outperformed the overall U.S. economy for 12 of the last 15 years, and shown similar strength in other regions around the world.
About Marilyn Monroe Spas
Marilyn Monroe™ Spas is the company that is transforming traditional spa and salon concepts under the iconic Marilyn Monroe brand. A direct operator of luxury hotel and resort spas and franchisor of community day spas, Marilyn Monroe™ Spas provide superior standards of service, cleanliness, organic and vegan products, customer environment and service to its ever-growing clientele, consistently fulfilling their desire to get polished and stay polished. Marilyn Monroe™ Spas are currently located in California, Florida, Hawaii, New York, and Texas. For more information, please visit www.marilynmonroespas.com. For franchising information please visit www.marilynmonroespasfranchise.com.
About La Vida Investment Holdings Pvt. Ltd.
Headquartered in Delhi, the national capital of India, La Vida Investment Holding Pvt. Ltd. develops and builds partnerships with international brands for the Indian market, in the hospitality, quick serve restaurant (QSR), health and beauty, education, jewelry, and apparel segments, among others. Its team of professionals has deep experience in a range of business disciplines including strategy and operations, organizational capacity building, investment banking, marketing, fund and business management, supporting an operating model built upon retaining leading industry professionals to drive growth in the company's range of business enterprises. For more information please visit www.lavidaholdings.com.
About Authentic Brands Group, LLC
Authentic Brands Group, LLC (ABG) is a brand development company which builds long-term value through the ownership of intellectual property associated with prominent fashion, sports, celebrity and entertainment brands. Headquartered in New York City, ABG enhances brand equity through partnering with best-in-class licensees and retailers. ABG's global portfolio of world-renowned brands includes Marilyn Monroe®, Mini Marilyn®, Elvis Presley®, Muhammad Ali®, Shaquille O'Neal®, Michael Jackson® managed brand , Juicy Couture®, Jones New York®, Judith Leiber®, Frederick's of Hollywood®, Adrienne Vittadini®, Taryn Rose®, Misook®, Hickey Freeman®, Hart Schaffner Marx®, Bobby Jones®, Spyder®, Tretorn®, Tapout®, Prince®, Airwalk®, Vision Street Wear®, and Hind®. www.abg-nyc.com
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