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Expansion 2014-09-24

VLCC closes in on acquisitions; to expand in Africa

Wellness firm VLCC is closing in on a global acquisition as part of its ongoing expansion, while it is also looking to expand aggressively in Africa.

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VLCC closes in on acquisitions; to expand in Africa

Wellness firm VLCC is closing in on a global acquisition as part of its ongoing expansion, while it is also looking to expand aggressively in Africa, says a PTI report.

Kenya, Tanzania, Uganda, Nigeria and South Africa are some of the countries identified by the company where it will open its slimming and beauty-care centres.

"We are in real acquisition mode and we are in talks with several companies in the wellness domain. You will soon hear an announcement from us," VLCC Founder and Vice-Chairperson Vandana Luthra told PTI.

Luthra, however, refused to share details such as size and geography of the acquisition that is on the cards.

Last year, VLCC had acquired Singapore-based Global Vantage Innovative Group, which owns and operates three firms that manufacture and retail cosmetic products and solutions.

In 2012, it acquired majority stake in Malaysia-based Wyann International which owned and operated a chain of 22 slimming and beauty outlets across Malaysia.

On expansion in Africa, Luthra said: "There is an open ground for us to expand very fast in the entire Africa as there is a huge opportunity and need for our kind of business. The plan for opening centres is very aggressive in Africa."

After Kenya, the company will open centres in Tanzania, Uganda followed by Nigeria before entering South Africa.

The company opened its first centre in Africa in Kenya in collaboration with the Kenya-based Sameer Group earlier this month.

Luthra did not elaborate on the number of centres VLCC planned to open in Africa.

VLCC has also started retailing its personal care products in the continent.

"Even before we open our centres in many market like Africa and Saudi Arabia, we have started retailing personal care products. VlCC's products range comprises over 125 products," Luthra said.

When asked if the company was looking at new markets globally, she said: "We will continue to focus in the four markets where we are already present which is South Asia, South East Asia, the Middle East and Africa."

VLCC also plans to open centres in Saudi Arabia, Egypt and Pakistan.

"In Saudi Arabia, we currently do not operate a centre but we plan to open multiple centres soon. We will also open centres in Egypt and Pakistan," she added.

The company's international operations at present contribute 30-35 per cent to the group revenues.

Currently about 60-65 per cent of VLCC's group revenues come from services and balance from products.

The company operates 300 outlets comprising beauty and slimming centres, nutrition institutes and exclusive beauty zones in 16 countries.

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