(Alliance News) - Georgia Healthcare Group PLC on Friday said its pharmacy & distribution business has signed a franchise agreement with The Body Shop International Ltd.
The pharmacy and medical insurance company said its division has obtained the right to operate The Body Shop in Georgia for an initial term of ten years. The Body Shop is a cosmetics, skin care and perfume company.
In the first year of operations, Georgia Healthcare said it will develop up to three standalone flagship The Body Shop stores in the capital and large cities of Georgia, and will also operate a shop in shop model, developing The Body Shop stands in its own retail pharmacy chain.
"Entering the beauty retail market is further progress of the group towards its recently declared strategy to develop new growth opportunities and shape new markets," said Nikoloz Gamkrelidze, chief executive of Georgia Healthcare.
"With our new franchisee Georgia Healthcare leading the way, we are confident that our brand philosophy will resonate well with future customers in Georgia," added Qasar Qayuum, executive managing director for Europe, the Middle East and Africa at The Body Shop.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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