VLCC set to expand globally
By Our Corporate Bureau | 20 Oct 2005
Hyderabad: Beauty and fitness company, Vandana Luthra Curls and Curves (VLCC) will open outlets overseas including Pakistan and Dubai. To this end, the company is expanding it manufacturing facilities and is setting up two new manufacturing plants, at Hardwar, Uttaranchal and one in Dubai.
The company will invest Rs70 crore in setting up the manufacturing facilities. The plants in India will cater to the domestic market while the one in Dubai will cater to the overseas markets.
The plants will produce personal care products. The plants in India will be ready by the middle of 2006 and will compliment its existing plant at Dehradun that manufactures personal care products.
According to Mukesh Luthra, chairman and managing director, VLCC, "As a part of our efforts to tap new markets, we are commissioning five overseas centres at one go entailing investments of Rs3.5 crore. We are also in the process of setting up centres in Pakistan," he said.
"We will fund the expansion and new facilities through internal accruals of Rs35 crore and the rest through debt. We have raised $10 million through Credit Lyonnais (about Rs45 crore)," he said.
Luthra said VLCC has about 100 centres in the country and is growing at a compounded annual growth rate of about 40 per cent. By next year VLCC expects to grow to 125 centres. "From a revenue of Rs200 crore, we have projected this to Rs.1,000 crore by 2010-2011," he added.
A new center in Hyderabad was inaugurated recently along with a new wellness product 'Slimmer's Isabgol.' Actress Amisha Patel inaugurated the new center.
