Beauty and wellness major VLCC is in talks with several companies in the wellness space, based both in India and abroad, for possible acquisitions. VLCC is also planning a joint venture with a US-based company specialising in the medical spa business.
VLCC group founder-mentor Vandana Luthra told ET: “We are in talks with several players, including a Singapore-based dermatological company, a pharmaceutical company based in Mumbai and a Hong Kong-based company for possible acquisitions. We are looking at least two of these deals getting completed within the next 6-7 months.” She however, declined to divulge the financial details of any of these deals.
The VLCC group, which clocked a turnover of nearly Rs 500 crore in 2008-09, had earlier said it was actively looking at the inorganic route for growth. “We are looking to enter a JV with the American company to set up a medical spa on land we have acquired near Delhi,” said Ms Luthra.
“We are looking at a growth of 25% year-on-year at least for the next three years,” she added. At present, 65% of the group turnover comes from the centres (which offer weight-loss solutions, beauty treatments and regular beauty salon services) and institutes’ business, while 25% and 10% comes from the overseas and VLCC Personal Care businesses, respectively. The group is aiming for a Rs 1,000-crore turnover by 2010-11. Also, VLCC is gearing up to enter new markets. “We are looking to launch our centres in Greece and the UK next year,” said Ms Luthra.
Source: Economic Times