Continuing its expansion plans, O2 Spa, Asia’s largest day spa chain and India’s first organized day spa chain, has signed an MoU with the Government of Andhra Pradesh Tourism Development Corporation (APTDC) that will see an investment of $ 1.75 Mn for a period of 3 years starting from October 2017.This investment is aimed at setting up of O2 Spa facilities across Andhra Pradesh wherein youth from the State will be trained and absorbed thus creating employment opportunities.
This agreement was signed between O2 Spa and Andhra Pradesh Tourism Development Corporation at the Second Sunrise Andhra Pradesh Investment Meet that was held in Vizag. O2 Spa was represented by Mr. Sameer Nair, Business Head – India whereas Mr. Girija Shankar, Managing Director of APTDC represented the Government.
Mr. Ritesh Mastipuram, Founder and Managing Director, O2 Spa said, ”The Indian wellness industry is expected to grow at a compounded annual growth rate (CAGR) of 12 per cent for the next five years to achieve a Rs 1,50,000 crore-turnover by 2019-20. The growth and requirement of the industry will continue to see an upward curve and so will the opportunity for skilled youths. This partnership with the Government of Andhra Pradesh will enable us in reaching out and bettering the lives of many youths by appropriately skilling them and placing them in apt job opportunities”
O2 Spa will set up facilities across cities like Amravati, Vijaywada, Vizag to name a few within the next 3 years. The training aspects for the youths will be undertaken by O2 Skills Academy, an initiative of O2 Spa, primarily conceptualized to help meet the shortage of quality and skilled manpower in the spa and hospitality industry This collaboration will aim to provide employment linked, market oriented vocational training that will enable filling in the gaps, the Spa and Hospitality industry faces by providing trained resources. Thus, the role of O2 Skills Academy will be to ensure Training, Certification and finally Placement into apt jobs.