Established in 2013 on the premise of bringing high-end
gentlemen's lifestyle services to India in an unprecedented way and to change the way
men experience luxury in the country, focused on “GROOMING TO PERFECTION”. FY
2022-23, our team executed well in a highly dynamic and challenging macro environment,
navigating in ationary pressures and supply chain headwinds, while remaining focused on
serving our customers. I remain proud of all of our team members, franchise owners and
business partners for their resilience, passion and dedication to the company. We are
focusing on the highest quality measures for giving our customers the best experience, and
something that is still unmatched in India. As we continue to execute our key initiatives
and explore potential growth catalysts, we expect to deliver consistent and sustainable
long-term growth that will drive enhanced value for our shareholders.
Dear Shareholders,
I am delighted to present the 10 Annual Report of our esteemed
organisation, on this momentous occasion of our rst Annual General Meeting being held
after successfully getting listed on the SME platform of National Stock Exchange of India
Limited as the 1 ever retail Barbershop : Mens Grooming: Salon , business w.e.f. 11
October, 2022.
At the outset, I warmly welcome the shareholders to our Company and
convey my sincere thanks to them for the trust they have reposed in the business. Your
conPdence has infused new energy within our Company to further evolve and grow the
operations while always staying relevant to our customers. As the Chairman of this
organization, I am delighted to address you today and provide an overview of our
achievements and plans for the future.
This year is a landmark year for our Company as we went Public with an
Issue size of Rs. 24 Crores. We are thankful for the support and welcome all the new
investors to be part of the broader Lloyds family.
The successful listing not only builds a solid foundation for the
long-term development of the Company but also marks the beginning of a new phase of strong
growth, expansion, and increased visibility in the market. The NSE EMERGE provides us with
a platform to showcase our strengths, attract potential investors, and strengthen our
brand presence in the retail salon industry.
TrueVtt & Hill is over two Centuries old and in its entire history,
we are the rst company to go public by expanding its brand value. We began our
relationship with TrueVtt & Hill in 2013, when we commenced operations of our luxury
barber shop in Mumbai. We have subsequently continued to expand our operations and
currently, we operate 32 barber shops under the brand name 'TrueVtt & Hill' across 17
cities in India, out of which 17 stores are Company owned and 15 stores are
sub-franchisee, including 1 in Dhaka, Bangladesh. Under the franchise agreement, we own
exclusive rights to open stores under the brand name of “True tt & Hill”
either directly or through sub franchisee arrangements in India, Bangladesh, Nepal, Sri
Lanka, Bhutan, Myanmar andVietnam.
During our journey from 2013 onwards, we built the infrastructure and
key foundational elements to take our business well into the future. Positioned as
providing Premium Lifestyle Services to Gentlemen in an unprecedented way and changing the
way Men experience luxury in the Country. One of the key factors contributing to our
success is our commitment to delivering exceptional customer experiences. We have invested
in creating a warm and inviting atmosphere where our customers feel pampered and valued.
Our skilled stylists and beauticians have consistently provided top-notch services,
staying abreast of the latest trends and techniques in the industry. Our vision is to
establish a network of retail salons in major cities and travel hubs throughout India.
These salons will adhere to our Best in class standards of excellence, offering a
comprehensive range of grooming services tailored speciFcally for men. From haircuts and
styling to skin care and beard grooming, our expertly trained professionals will provide
the nest care, ensuring that our customers always look and feel their best. We are
focussing on the highest quality measures for giving our customers the best experience,
and something that is still unmatched in India.
Also, the Company in the next 3-4 years, plans to reach 50 barber shops
largely Company owned and franchisee expansion. We also plan to add business development
"shop-in-shop" outlets in other retail formats.This will allow us to diversify
our offerings and provide products to the newer audience.
As we move forward, it is essential that we remain focused on our goals
and maintain the high standards that have brought us this far.
We must continue to provide exceptional services to our valued
customers, ensuring that their experience at our barber shops meets their expectations.
In addition, it is imperative that we stay attuned to the ever-changing
market trends and adapt accordingly. We must constantly innovate and embrace new
technologies to stay ahead of the competition. By doing so, we can not only retain our
existing customer base but also attract new customers who are seeking modern and
cutting-edge grooming experiences.
Furthermore, our listing on the SME platform brings with it a
responsibility to our shareholders. We must strive for transparency, accountability, and s
u s t a i n a b l e g r o w t h . R e g u l a r communication with our shareholders will
be crucial in maintaining their trust and conPdence in our company.
As we embark on our new scal year, our mission to add and retain
"TrueVtt & Hill" customers remains a core component of our roadmap, I am con
dent in our strategies and impressed by our teams, whose passion, perseverance, and
creativity are allowing us to build upon our core strengths and create new pathways for
growth in the face of a highly dynamic external environment. Looking ahead, I have
tremendous conviction that our ability to leverage our infrastructure and capabilities,
while introducing exciting new initiatives will set us up to deliver improved top-line
growth, and proStability and create meaningful shareholder value.
In conclusion, I am immensely proud of what we have accomplished so
far. Thank you all for your unwavering support, and I look forward to a successful and
prosperous year ahead.
- Mr. ShreeKrishna Mukesh Gupta