Leading FMCG giant Proctor & Gamble is all set to fund Jawed Habib Hair and Beauty salons in UK, Dubai and Singapore. In the initial phase, P&G has allotted a loan amount of 10, 000 GBP for each Jawed Habib owned salon in the UK. Rohit Arora, Executive Director and CEO, Jawed Habib, said, P&G has signed an agreement to provide a loan of 10,000 GBP for every salon that we open in the UK. A similar agreement is expected to follow in Dubai and Singapore.” Currently, Jawed Habib already has a single salon under JH Bevels brands in London. In the next phase, five more salons will receive funding from P&G over the next two years. “In the overseas markets such as the UK, FMCG companies such as P&G have the freedom to give soft loans to entrepreneurs, but in India it is not allowed as it does not operate as NBFC”, added Arora. Jawed Habib, Chairman and MD, Jawed Habib, said they are opening 30 salons a month and may try opening an IPO when market conditions are better. The company is also aiming to open its own JH outlets instead of opting for the franchise format and getting back at airports with their ‘Xpresso’ format. “Soon you will see our presence at Delhi’s T3 airport, this time we will be beyond the check-in area”, added Habib.
Would target UK, Dubai and Singapore in the first phase.