VLCC to invest Rs 100 cr on expansion
Beauty and wellness major VLCC is investing around Rs 100 crore by 2010 for expanding its network both in domestic and overseas markets.
By PTI |
NEW DELHI: Beauty and wellness major VLCC is investing around Rs 100 crore by 2010 for expanding its network both in domestic and overseas markets.
The company, which currently has 150 outlets in India, is looking to double them to 300 while increasing its overseas centres to around 30 from the present nine in the next two years.
VLCC Chairman and Managing Director Mukesh Luthra said that the company would invest about Rs 60 crore for expansion in India and another Rs 40 crore in the overseas markets.
In India, the company is focussing on Tier-II and Tier-III cities, half of which would be set up by the year-end and the other half in 2010.
"We are focusing on smaller cities such as Bhatinda, Bhagwada, Farkhabad and similar towns. We are setting up a store in Indore very soon," he said.
"We already have nine centres in the Middle East. We are adding another 15 centres. Besides, we are also opening up our training institutes outside India," he said.
The first one would be opened in Kathmandu in two months and would be followed by Dubai in September-October, he added.
By 2010 the company is aiming to foray into new markets beyond the Middle East such as the African countries before foraying into the European market, Luthra said.
The company, which currently has 150 outlets in India, is looking to double them to 300 while increasing its overseas centres to around 30 from the present nine in the next two years.
VLCC Chairman and Managing Director Mukesh Luthra said that the company would invest about Rs 60 crore for expansion in India and another Rs 40 crore in the overseas markets.
In India, the company is focussing on Tier-II and Tier-III cities, half of which would be set up by the year-end and the other half in 2010.
"We are focusing on smaller cities such as Bhatinda, Bhagwada, Farkhabad and similar towns. We are setting up a store in Indore very soon," he said.
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On its overseas expansion plans, he said the company planned to open 15 more centres in the Middle East by the end of this year. "We already have nine centres in the Middle East. We are adding another 15 centres. Besides, we are also opening up our training institutes outside India," he said.
The first one would be opened in Kathmandu in two months and would be followed by Dubai in September-October, he added.
By 2010 the company is aiming to foray into new markets beyond the Middle East such as the African countries before foraying into the European market, Luthra said.
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Asked about funding for the expansion, he said: "Most of our funds would be from internal accruals, but we may also look at raising money through debt."Start a SIP with as low as ₹500 with ET Money App!
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