Naturals signs MoU with Indian Overseas Bank

BY 121 News Reporter

Chandigarh 13^th October:- Naturals, India's No.1 unisex hair and beauty salon signed a Memorandum of Understanding (MoU) with Indian Overseas Bank today. Through this partnership, IOB provides collateral free loan to 25 budding women entrepreneurs in Delhi promoting women empowerment and strongly supporting their aspirations in the field of beauty. This partnership with IOB will help the 25 women in setting up a Naturals W, Naturals salon and Naturals Lounge availing a loan of Rs. 20 lakhs, 30 lakhs or 40 lakhs respectively. This amount will be used for setting up the salon interiors, equipments, products, rental deposits, signage and marketing activities.

Speaking on the occasion CK Kumaravel, CEO & Co Founder, Naturals said, that this partnership of Naturals with Indian Overseas Bank is in line with our vision of women empowerment. With this we are one step closer to our target of setting up 3000 salons by 2018. A methodical research has gone through in identifying these 25 women from this region, keeping in mind our plans for the market and the potential that we see for our brand through this expansion.

Naval Gupta, General Manager – IOB said, that this partnership with Naturals is in line with our goal of contributing to women empowerment in the country. We strongly believe that such initiatives will spur greater employment opportunities to the enterprising innovators in this field.

The franchise business model adopted by Naturals has been instrumental in making their presence felt across the country. This partnership is another important step for Naturals towards its mission to create 1000 Successful Women Entrepreneurs & generate 50,000 Job Opportunities by 2018.