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VLCC to spend Rs 200 cr aiming expansion

VLCC to spend Rs 200 cr aiming expansion
PTI
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First Published: Fri, Sep 16 2011. 10 36 AM IST
Updated: Fri, Sep 16 2011. 10 36 AM IST
Mumbai: Riding high on the growing demand for skincare products, wellness and beauty company VLCC said it plans to launch a new range of products in the anti-pollution category and will spend around Rs 200 crore over the next two years on domestic and overseas expansion.
“We will launch the anti-pollution range by the end of this month, which will be priced affordably. It will cater to a far greater population. It is a whole range of products from sunscreen to shampoos and we have high hopes for that,” VLCC healthcare managing director Sandeep Ahuja told the news agency here.
The products will be priced below Rs 100, which is far less than its other products, he said.
VLCC, which has presence in seven countries, with about 20 outlets, is also planning to expand its overseas footprint. “We added three new countries - Sri Lanka, Bangladesh and Qatar. We plan to open another outlet in Dhaka in six months, the second in Doha by this year-end and Kuwait by early 2012,” Ahuja said, adding that the company plans to open a manufacturing unit in the Middle East in two years’ time.
VLCC, which has 163 slimming and beauty centres in 102 cities across the country, plans to open 15 new company-owned outlets this fiscal, Ahuja said.
The company also expects to double its franchisee outlet strength from the current 35 to 70 within a year. “We are targeting a 25% growth and aim to be a Rs 1,000-1,400 crore company in the next two years. We will spend Rs 100 crore each year for the next two years,” he added.
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First Published: Fri, Sep 16 2011. 10 36 AM IST