VLCC acquires Malaysian beauty company
IANS [ Thu, Nov 22, 2012 ]
- New Delhi, Nov 22 (IANS) Wellness chain VLCC has acquired Malaysian-owned slimming and beauty operation, Wyann International, it was announced Thursday.
VLCC, which already has direct company-managed operations in nine countries across South Asia and the Middle East, has acquired a majority stake in the Kuala Lumpur-based company for an undisclosed amount, according to an official statement.
"We are very excited by this opportunity, which is not only significant as our first step beyond South Asia and the Middle East, but also as our first move to grow through acquisition," said Mukesh Luthra, chairman, VLCC Group.
"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," he added.
Wyann International owns and operates a chain of 22 slimming and beauty outlets across Malaysia.