JCB Salons Secures ₹40 Crore from BlackSoil for Strategic Expansion

Salon chain JCB (Jean Claude Biguine) Salons India has secured ₹40 crore ($4.8 million) from the alternative credit platform BlackSoil. The funds will be used to acquire Spalon, a homegrown salon chain, marking JCB's expansion into the South India market. Additionally, the capital will support working capital needs and enhance operational efficiencies.

JCB Salons, a global premium salon chain, operates in Mumbai, Pune, and Bangalore, while Spalon boasts over 27 branches across Southern India. The company plans to leverage JCB’s global expertise alongside Spalon’s local market understanding to strengthen its presence in both West and South India.

The Indian beauty market is expected to reach approximately $580 billion by 2027, growing at an annual rate of 6 percent, driven by rising disposable incomes and aspirational spending.

“With increasing aspirations and purchasing power, we are optimistic about the spa and salon business growth in the coming years. Currently, with strongholds in West India, we are keen on integrating Spalon’s established network and strong legacy into our portfolio to expand to South India, a region we are extremely excited about,” said Sneh Koticha Contractor, Founder of JCB Salons India.

Ankur Bansal, Co-founder and Director of BlackSoil, commented, “The beauty and grooming sector is the next billion-dollar global opportunity in India. JCB Salons is building a robust model for India’s new-age beauty and wellness-conscious crowd, and the acquisition of Spalon amplifies its business prospects.”

Established in 2016, BlackSoil is an alternative credit platform comprising an RBI-registered systemically important NBFC and a SEBI-registered AIF. The company offers credit to growth companies, FIs, and NBFCs, and has deployed more than $400 million across 180 deals. Headquartered in Mumbai, BlackSoil employs over 110 people.

HBL