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NoBroker Eyes IPO After Launching Home Salon Service
28 Jun
Summary
- NoBroker has launched its home salon service, Zivora, in Bengaluru.
- The company plans to expand Zivora to five other major Indian cities.
- NoBroker aims for an initial public offering within the next 12 to 18 months.
NoBroker Technologies Solutions Pvt. Ltd has expanded its offerings by launching Zivora, a home salon service, in Bengaluru. This move marks the prop-tech platform's entry into a competitive market, with plans to extend Zivora's reach to NCR, Pune, Hyderabad, Chennai, and Mumbai within the next two months.
The company, already providing a range of home services, identified high customer demand for salon services. Despite the competitive landscape and current discounting strategies by rivals, NoBroker aims to avoid aggressive customer acquisition spending.
NoBroker is also strategically planning its financial future. The company intends to achieve full cash profitability within the next 12 months, paving the way for a potential initial public offering in the subsequent 12 to 18 months.
Analysts suggest the home salon sector will intensify, with potential entry from instant-service providers due to its higher average order value. However, they also highlight operational challenges like beautician training and maintaining service quality.
