Financial Daily from THE HINDU group of publications
Wednesday, Oct 19, 2005
Financial Daily from THE HINDU group of publications Wednesday, Oct 19, 2005 |
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Marketing
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Brands Corporate - New Projects VLCC plans to invest Rs 70 cr Our Bureau
Bollywood actress Amisha Patel (right) and Ms Vandana Luthra, Chairperson, VLCC, at the inauguration ceremony of VLCC Health Care Centre in Hyderabad on Tuesday. — Satish. H
Hyderabad , Oct. 18 VLCC, a beauty and fitness brand, has sewn up plans to invest Rs 70 crore in two manufacturing plants, one at Hardwar, Uttaranchal and the other in Dubai, both to produce personal care products that support their chain of fitness centres. These two plants, to be ready by middle of 2006, will compliment its existing plant at Dehradun that currently manufactures personal care products. The Chairman and Managing Director of VLCC, Mr Mukesh Luthra, told Business Line that while the new plant in India would cater to the domestic market, the one at Dubai would cater to the overseas market. "The expansion and new facilities would be part-funded by internal accruals of Rs 35 crore and through debt. Through Credit Lyonnais, CLSA we have raised $10 million (about Rs 45 crore)," he said. "The company currently has about 100 centres in the country and is growing at a compounded annual growth rate of about 40 per cent. We expect to grow this to 125 centres by next year. From a revenue of Rs. 200 crores, we have projected this to Rs. 1000 crores by 2010-2011," he said. "As a part of our efforts to tap new markets, we are commissioning five overseas centres at one go and these would entail investments of Rs 3.5 crores. We are also in the process of setting up centres in Pakistan," he said. The Luthras were in Hyderabad to announce the launch of their new centre, which was inaugurated by actress Amisha Patel..
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