Dr Morepen Ltd, the fast-moving health goods subsidiary of the Rs 430 crore Morepen Laboratories Ltd, has appointed Aravind Nagarajan as the chief executive officer to handle Lifespring, the company’s health and beauty retail chain.
The company claims to have registered a 25 per cent growth during the last few months after it acquired the brand from Total Care Private Ltd. It aims to be a leading player in health, beauty and pharmaceuticals arena in next three years.
Nagarajan said: “The acquisition facilitated in the integration of Dr Morepen’s corporate strategy, of making health accessible to the consumers, through its extension into retail segment reflecting its lifestyle positioning.”
Introducing the concept of a health bar counter and adding health foods to the products range were some of the steps that were initiated by Dr Morepen at the Lifespring stores to strengthen its health care portfolio.
In addition, Dr Morepen is test-marketing a few concepts at the Lifespring stores. If successful, these will be extended throughout the chain.
According to Nagarajan, the plan is to pump in Rs 10-12 crore by March 2003 in order to gain a foothold with the brand before getting into the expansion mode.” Currently, Lifespring has six stores in New Delhi.