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Posted on Nov 22, 07:13PM | IBNS
VLCC, a leading player in the wellness domain in South Asia and the Middle East, on Thursday announced a major acquisition of leading Malaysian-owned slimming and beauty operation, Wyann International (M) Sdn. Bhd (Wyann International).
VLCC, which already has direct company managed operations in 9 countries across South Asia and the Middle East, has acquired a majority stake in Wyann International for an undisclosed amount.
Kuala Lumpur based Wyann International owns and operates a chain of 22 slimming and beauty outlets across Malaysia offering specialist services and innovative products through its established Bizzy Body, Facial First and MASCULINE brands.
Beyond adding new service offerings in the existing outlets, VLCC also has aggressive plans for further expansion in Malaysia, that includes adding new Bizzy Body and Facial First centres in addition to a premium chain of complete wellness centres, exclusive slimming services for men, vocational education institutes in beauty and nutrition as well as launching of the VLCC Personal Care line of natural/herbal skin, hair and body-care products.
Mukesh Luthra, Chairman, VLCC Group, said, "In Wyann International we have found an excellent partner for growth, one that shares our focus on health, wellness and innovation and offers us access to an established network and loyal customer base.
"This acquisition is an excellent spring board for us to achieve an accelerated expansion in South East Asia."
The VLCC Group's target over the next 18 months is to roll-out its presence from the current ten countries of Malaysia, India, Bangladesh, Sri Lanka, Nepal, UAE, Oman, Bahrain, Qatar and Kuwait to an additional 8 countries, including Singapore, Indonesia, Thailand, Myanmar, Kingdom of Saudi Arabia, Egypt and Kenya.
Luthra said, "In all our operations across the countries that we operate in, we are guided by the vision of 'transforming lives', focusing not only on the cosmetic and beauty aspects but also on promoting a healthy lifestyle and balanced dietary habits, leading to overall wellness."
"In Malaysia, where obesity and lifestyle related dietary illnesses are fast becoming a critical health issue , we want to share our wellness expertise and insight gained from extensive research.
"As we have done in other countries, in Malaysia too we will endeavor to work closely with the medical fraternity and in line with the Government's public health agenda to help prioritise the vision of wellness for life, enhancing the overall productivity and quality of human capital," said Luthra.
Commenting on the strategic sale, Yap YannFang, Founder and COO, Wyann International, said, "We are delighted to welcome VLCC Group as our partner and look forward to sharing expertise and knowledge to continue the growth trend in the region."