With the endeavour to expand strategically, (Jean Claude Biguine) has secured Rs. 40 crore investment from Blacksoil. These funds will be used in the acquisition of Spalon, the homegrown salon chain which also marks JCB’s expansion in the South Indian market. The funds will further be used in enhancing operational efficiencies and reinforce working capital.
The merger of JCB Salons expertise and Spalon’s domestic market knowledge, aims to increase its presence in the West and South India. With the Indian beauty market poised to grow at $580 billion by 2027, estimated at an annual rate of 6%, the strategic expansion of JCB Salons and Spalon will only further make the beauty industry grow in leaps and bounds.
JCB Salons is a global premium salon chain with operations in Pune, Bengaluru and Mumbai, and Spalon has more than 27 outlets in South India. Founded in 2016, BlackSoil is an alternative credit platform comprising an RBI-registered systemically important NBFC and a SEBI-registered AIF. Headquartered in Mumbai, BlackSoil has deployed more than $400 million across 180 deals and employs over 110 professionals. The company provides credit to growth companies, financial institutions, and NBFCs, maintaining a significant presence in the alternative lending market.
