Cure & Care health and wellness chain from Karnataka based Manipal group has announced two separate tie ups with Aditya Birla’s Departmental stores and Jubilant Malls. This will be in addition to Cue & Care’s 50 standalone health centers. Jubilant plans to setup 40 malls on PAN India basis while Birla’s will open more departmental stores under the brand name “More”. As per the agreement Jubilant will only get rentals from Cure & Care while Birla’s will get a cut from Cure & Care’s revenue.
Cure & Care COO, Somnath Das said,
We are still a nascent company in this space and it is important for us to tie up with large players to expand our operations rapidly. About 60% of the store’s revenues will come from services, while the remaining 40% will be from product sales.
Cure & Care was in talks with the Pantaloon group but with the latter’s ambitious expansion plan in setting up it’s own chain made the talks collapse.