VLCC to invest over Rs 300 cr in 3 yrs to fund expansion

Jul 27 2014, 14:02 IST
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SummaryThe Delhi-based firm, which posted revenues of Rs 1,000 crore last year, is also targeting a turnover of Rs 3,500 crore in the next three years.

Beauty and wellness firm VLCC plans to invest more than Rs 300 crore over the next three years to fund expansion in domestic as well as international markets.

The Delhi-based firm, which posted revenues of Rs 1,000 crore last year, is also targeting a turnover of Rs 3,500 crore in the next three years.

"We have very aggressive plans lined up for the future. In the next 2-3 years, we have earmarked over Rs 300 crore for organic as well as inorganic growth across India and overseas markets," VLCC Founder and Vice Chairperson Vandana Luthra told PTI.

The company is growing at around 35 per cent year-on year and the firm expects the turnover to touch Rs 3,500 crore in the next 3-4 years, she added.

Funding for the expansion process would come from internal accruals as well as from strategic investors, Luthra said.

Elaborating further, Luthra said: "In the next 2-3 years, we plan to open another 60 branches across the globe. It will include wellness centres and VLCC institutes".

The company, which has operations at 300 locations across 16 countries, is also eyeing various other emerging segments like dermatology and nutraceuticals to grow at a faster clip.

"We are in talks to buy an Italian hair company and a UK based firm which deals in dermatology products. Also, we are planning to enter the nutraceuticals segment," Luthra said.

The company, which has three factories located at Haridwar, Dehradun and Bangladesh, is also looking to set up a new facility in North East India.

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

Currently, the company has operations in India, Sri Lanka, Bangladesh, Nepal, Malaysia, Singapore, UAE, Oman, Bahrain, Qatar, Kuwait, Saudi Arabia and Kenya.

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