Financial Daily from THE HINDU group of publications
Saturday, Sep 04, 2004
Financial Daily from THE HINDU group of publications Saturday, Sep 04, 2004 |
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Marketing
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Strategy Corporate - Diversification Industry & Economy - Tourism VLCC plans foray into health tourism next year Nirmal D. Menon
Mumbai , Sept. 3 Vandana Luthra Curves and Curls (VLCC), the New Delhi-based Rs 84-crore fitness and beauty corporate, will venture into health tourism next year as part of its growth strategy. Speaking to Business Line, Mr Mukesh Luthra, Managing Director, VLCC, said, "Keeping in mind the initiatives of the Indian tourism department and the growing international market for health tourism, we plan to foray into health tourism by setting up a residential spa in Delhi next year." The company has identified a plot at Delhi and will seek funding of Rs 150 crore for the project. This residential spa will house 60 cottages and offer periodic luxury therapy packages starting from nine days to a month-long package. The packages would be priced at a minimum of Rs 50,000. "This project is targeted at the increasing number of tourists who visit India for health therapies, and unlike our day-spa services, our guests can stay with us and benefit from a host of our services like detoxifying the body, nutritional correction and skin treatments," Mr Luthra said. The company will also widen its product base by launching natural food products in the honey and natural laxatives segment in 2005, Mr Luthra said, adding that VLCC currently offers around 100 slimming and beauty products. The company has also set competitive growth targets this year. It plans to set up 100 centres by year and against the current 71 operating centres, besides launching nine more VLCC institutes and nine VLCC beauty shops. There are also plans to enter new markets in Kuwait and Abu Dhabi, Dubai and London. VLCC had recently bagged $10 million (Rs 45.9 crore) as investment from a fund managed by the Hong Kong-based CLSA Private Equity Ltd to finance business expansion, and will consider further funding to rev up its growth plans, Mr Luthra said. The company has also taken up direct marketing initiatives under Thompson Connect. While JWT handles most of the creative functions of VLCC, Equus Red Cell undertakes strategy planning. The company had also hiked its advertising expenses to Rs 15 crore this year compared to Rs 8 crore last year, Mr Luthra added.
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