Wellness and beauty chain VLCC has acquired a majority stake in Malaysian firm Wyann International for an undisclosed amount. The Kuala Lumpur-based slimming and beauty chain operates 22 outlets across Malaysia and has brands such as Bizzy Body, Facial First, and Masculine. “We are very excited by this opportunity, which is not only significant as our first step beyond South Asia and West Asia, but also as our first move to grow through acquisition This acquisition is an excellent spring board for us to achieve an accelerated expansion in South-East Asia,” said VLCC Group Chairman Mukesh Luthra. The company said it has aggressive plans for expansion in Malaysia which includes launching of Bizzy Body and Facial First centres in the country. Further, the company said it plans to launch various other services including wellness centres, exclusive slimming services for men and vocational education institutes in beauty and nutrition. It is also mulling expansion in another eight countries in the next 18 months. At present, it has operations in countries such as Bangladesh, Sri Lanka, Nepal, the UAE and Oman and is looking to establish operations in Singapore, Indonesia, Thailand, Myanmar, Saudi Arabia, Egypt and Kenya, Luthra added.
VLCC acquires Malaysian firm Wyann International
Mumbai, Nov. 22: