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flag Indian salon chain Naturals may go public by 2028 if Reliance investment talks fail.

flag Indian salon chain Naturals is considering an IPO by 2028 if talks with Reliance over a potential investment fail. flag The discussions, stalled since 2022, center on ownership, with Reliance seeking 51% and Naturals offering only 49% to retain control. flag The company, with about 900 outlets, reported ₹49.64 crore in revenue for fiscal 2025 and expects ₹600 crore this year. flag It plans to open 100 new salons in 2026, focusing on dense urban areas. flag The move follows growth in India’s $10.8 billion beauty salon market, fueled by rising incomes, more women in the workforce, and changing consumer habits. flag Reliance has not commented, and Naturals is not pursuing other investors.

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