GED opens first Cellulem Block beauty clinic in Romania
Spanish investment fund GED has opened its first beauty clinic in Bucharest under the Cellulem Block brand through a franchise contract and is currently negotiating to open such clinics both under its management and under franchise. GED has acquired a 60 percent stake in aesthetics services provider Cellulem Block in 2007. The minimum investment to open such a clinic in Romania is of EUR 20,000 and can range to EUR 70,000. The investment can be recovered in one year to one year and a half, according to GED.
Cellulem Block, the franchising company, has over 240 beauty and personal care centres. Although the majority of centres are distributed across Spain and Portugal, Cellulem Block also has a presence in countries such as the United Kingdom, Italy, Mexico, Russia and Dubai. When GED bought into the business in a EUR 9 million deal, it was expecting to expand the franchise network in Spain and other countries until 2011.
GED, which owns companies like Happy Tour and Fonomat in Romania, has recently made two acquisitions through Happy Tour. Read more about these acquisitions here.