|
|
|
In 2007, Reliance Retail (Reliance) launched
its first Reliance Wellness store1
in Hyderabad, India. The store would provide skin and personal
care products, pharmaceuticals products, and nutritional
products to consumers. In addition to this, the store would
offer fitness equipments, books, audio and video CDs, and even
an optical shop managed by an ophthalmologist. The store also
aimed to provide consultation services on health and wellness to
its customers. The offerings would also include a medical
compliance program and a customer loyalty program.
|
Through the medical compliance program, the company
offered to send alerts to customers on long term medication or on
multiple drug regimen, which will help the customers to take their
medicines on time and also get their prescriptions filled on time.
Through the customer loyalty program, the company offered free insurance
cover to its customers. For this, Reliance Wellness had entered into a
partnership with ICICI Lombard General Insurance Company to provide a
group personal accident insurance policy.
Reliance planned to open more such stores in Bangalore, Mysore, Mumbai,
Delhi and Jaipur by the end of the year 2007. Using the insights gained
through these pilot stores, Reliance was planning to expand its
operations across India by launching 1,200 wellness stores by 2010.
As of 2007, the Indian health and wellness market was on a boom phase.
The market was estimated to be Rs. 20 billion with a year-on-year growth
of over 25 percent.2 Moreover,
the attitudes and preferences of the Indian consumers were changing due
to the increase in their disposable incomes, high consumption
propensity, exposure to global trends, etc.
This, according to analysts, had led to an increase in demand for health
and wellness products and services. The retailing boom in India had also
contributed to the growth of the entire wellness industry, they said.
Various wellness products such as medical and nutritional products,
fitness equipments, consultation, eye testing, books, and audio video
material on health and wellness were all being brought under one roof by
big retailers.
Given the huge opportunity, many other leading corporate groups such as
Manipal Group and Dabur India Ltd. (Dabur) entered the booming health
and wellness market with grand plans for the future.
In May 2007, Manipal Group's retail arm, Manipal Cure and Care (MCC)
launched its first health and wellness center in Ahmedabad. MCC was
entering the market with an initial investment of Rs. 500 million.
It aimed to offer customers health checks, cosmetics, skin care
products, and consultation services through medical consultants in
various fields of medicine. Manipal Group's CEO, Rajan Pai, said,
"Retailing is taking off in India and we feel that there is a huge space
in the wellness, preventive and beauty & cosmetic care in this format.
We plan to integrate our skills in healthcare to ride the wave of this
boom. We plan to open 50 own centers in the next four year and will
later explore joining hands with like minded people for franchising."3
|
1] Reliance Wellness stores is the retail venture
of the Reliance Group of Companies. Reliance Wellness stores are being launched
all over India under the flagship of Mukesh Ambani.
2] "Indivision to Buy over 22% in VLCC for Rs 46
Cr," www.economictimes.indiatimes.com January 25, 2007.
3] "Manipal Education and Medical Group Launches
Nationwide Health & Wellness Centre in Retail Space as "Manipal Cure and Care","
www.businesswireindia.com., August 3, 2007. |
