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| VLCC eyeing Rs 1,000 cr revenue in three years |
| Press Trust of India / Mumbai Aug 31, 2010, 20:28 IST |
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Beauty and wellness firm VLCC is eyeing a Rs 1,000 crore revenue in the next three years, even as it expects to triple the size of its product portfolio, a top company official said.
The company's current revenue is around Rs 500 crore and is growing at a rate of 25 per cent annually, at par with the industry. The overall wellness market is estimated at around Rs 11,000 crore.
"Our focus is to grow our topline in both our centres (VLCC Institutes) and product portfolio. We are looking at doubling our overall turnover to Rs 1,000 crore over the next three years. Besides, we want to strengthen our product portfolio," VLCC's CE0 Sandeep Ahuja told PTI here.
Currently, 50 per cent of the company's revenue comes from its institutes while 25 per cent each is generated from the products and global businesses.
The New Delhi-based company has also earmarked a Rs 300 crore expansion plan, both domestic and overseas, he said.
"We plan to invest around Rs 300 crore to expand our footprint globally. This may be organic or through some acquisitions over the next 24 months. The funding will be through internal accruals and debt," Ahuja said.
The firm, which forayed into the nutraceutical segment early this year by opening one nutri-diet clinic in New Delhi, plans to open 4 more such clinics this year. It also plans to up its number of VLCC fitness centres from 220 to 300 by next year.
Six new VLCC centres are planned in locations such as Dubai, Qatar, Sri Lanka, Bangladesh and Bahrain. It already has 10 centres in the UAE.
Besides, the company exports its personal-care products to as many as 45 countries such as Sharjah, Dubai, Abu Dhabi, Oman, Bahrain, Qatar and Kuwait and plans to enter new markets such as Malaysia and Singapore, he said.
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