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BEAUTY AND WELLNESS IS REVOLUTIONIZING
The beauty and wellness industry in India is poised to touch Rs.1,00,000 crore by 2015, with a compounded annual growth rate of 15-17%, from about Rs 70,000 crore in 2012 , with a likely shortage of skilled personnel by 2016. FICCI-PwC report had forecast that the number of people employed in the Wellness space could potentially almost treble from over 1 million lakh in 2011 to 3 million by 2015.
The spending power of people are increasing and this has given the beauty and wellness industry a huge remmuneration. And very interestingly the industry remained unchanged even during recession and economic crisis.
Salons are a common name between mankind. Despite of the gender the rush to beauty and wellness centers are increasing.Men's fashion is in par with women's. The time has gone where only women's looked for parlours.
It is a recession proof industry, where the high rate of growth in this dynamic industry is being driven by increasing consumer demand for good products and services and a growing middle class. The wellness industry in India is poised to touch Rs. 1,00,000 crore (Rs 1 trillion) by 2015, with a compounded annual growth rate of 15-17%, from about Rs 70,000 crore in 2012 , with a likely shortage of 600,000 skilled personnel by 2016. FICCI-PwC report had forecast that the number of people employed in the Wellness space could potentially almost treble from over 1 million lakh in 2011 to 3 million by 2015.
According to reports, the industry will be a massive job enhancer by 2022.
But, the major challenges faced by the Indian Wellness domain on the skill development front are in terms of the inadequate availability of training infrastructure, standardized training curriculum (especially at the entry level), the absence of quality trainers in sufficient numbers, easier financial access to outcome-linked skills training initiatives, as also a general misplaced notion about the benefits of vocational training. Matters have not been helped by the fact that the Wellness domain in India is still largely unorganized and fragmented, with a very limited number of companies in the organized space having a pan-India presence. The talent deficit poses extreme threat to the growth and expansion of the whole beauty and wellness industry.
Now take a look on : L'Oreal's premium Kerastase treatment - in which a "Kerastase Ambassador", a hair specialist, examines the customer's scalp condition with a special camera before recommending appropriate haircare - is becoming popular despite its steep price tag, with more than 200 outlets in the country providing the service. "Our ritual prices range from Rs 1,000 to Rs 3,500, while the anti-hairloss programme can cost between Rs 1,600 and Rs 10,500," says Smira Bakshi, General Manager, Kerastase India.
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