O2 Spa, one of Asia’s largest day spa chains has signed an MoU with the Government of Andhra Pradesh that will see an investment of US$ 1.75 Mn for a period of three years starting from October 2017.This investment is aimed at setting up of O2 Spa facilities across Andhra Pradesh wherein youth from the State will be trained and absorbed thus creating employment opportunities.
This agreement was signed between O2 Spa and Andhra Pradesh Tourism Development Corporation at the Second Sunrise Andhra Pradesh Investment Meet that was held in Vizag. O2 Spa was represented by Sameer Nair, Business Head – India whereas Girija Shankar, Managing Director of APTDC represented the Government.
Ritesh Mastipuram, Founder and Managing Director, O2 Spa said, “The Indian wellness industry is expected to grow at a compounded annual growth rate (CAGR) of 12 per cent for the next five years to achieve a Rs 1,50,000 crore-turnover by 2019-20. The growth and requirement of the industry will continue to see an upward curve and so will the opportunity for skilled youths. This partnership with the Government of Andhra Pradesh will enable us in reaching out and bettering the lives of many youths by appropriately skilling them and placing them in apt job opportunities.”
O2 Spa will set up facilities across cities like Amravati, Vijaywada, Vizag to name a few within the next three years. The training aspects for the youths will be undertaken by O2 Skills Academy, an initiative of O2 Spa, primarily conceptualised to help meet the shortage of quality and skilled manpower in the spa and hospitality industry This collaboration will aim to provide employment linked, market oriented vocational training that will enable filling in the gaps, the Spa and Hospitality industry faces by providing trained resources. Thus, the role of O2 Skills Academy will be to ensure Training, Certification and finally Placement into apt jobs.
O2 Spa is investing US$15 million in expanding its operations in the country and aboard. The company will grow from its current base of 82 outlets in 18 cities to 150 outlets across 30 cities by FY 2016-2017. The expansion plans include addition of about 30 outlets in Tier 1 and 60 outlets in Tier 2 cities in India and more than 10 outlets abroad. O2 Spa operates in five different formats that include airports, malls, luxury hotels, standalone properties and luxury trains (railways).O2 Spa is taking the lead in converting smaller towns to an organised Spa and Wellness market through its expansion. It is the only Spa chain that uses multiple formats to run its business. In December 2016, O2 Spa acquired Pune based Zazen Spa thus scaling up operations in the South Indian market.
