VLCC, the slimming & beauty specialist, has acquired a Malaysian company called Wyann International in an attempt to beef up its operations overseas. VLCC, which is short for Vandana Luthra's Curls & Curves, did not specify the deal size. But the New-Delhi-headquartered company has been looking at markets in South East Asia in a bid to expand its footprint. The company currently has operations in the Middle East and neighbouring countries of Sri Lanka, Nepal and Bangladesh.
Kuala Lumpur-based Wyann owns and operates a chain of 22 slimming and beauty outlets across Malaysia offering specialist services and innovative products.
Mukesh Luthra, chairman, VLCC, said that the company was looking to add eight more countries including Singapore, Indonesia, Thailand, Myanmar, Saudi Arabia, Egypt and Kenya to its list and proposes to do so by either acquiring businesses or moving organically in the next eighteen months.
VLCC is one of the few large organised players in a business that is largely unorganised and fragmented. The wellness industry, according to estimates, is pegged at Rs 11,000 crore, growing at about 35 per cent per annum. But the organised segment makes up a small proportion of the industry, with the bulk dominated by small beauty parlours and spas.