GURGAON, 7 January, 2016: Leading wellness brand VLCC Health Care Limited (VLCC) announced the appointment of Mr. Vikram Limaye, Managing Director & CEO of IDFC Limited, who has joined its Board of Directors as an Independent Director.
Welcoming Mr. Limaye to the VLCC Board, Mr. Mukesh Luthra, Chairman, VLCC said, “We are indeed privileged to have a professional of Vikram’s banking and finance experience on our Board. I am confident he will add tremendous value to our endeavours as we embark on our next phase of growth.”
Commenting on his appointment, Mr. Vikram Limaye added, “I am looking forward to my association with VLCC. It would be very exciting to work with the Board to build upon the foundation already established and towards creating further value.”
Currently the Managing Director & CEO of IDFC Limited, Mr. Vikram Limaye is an MBA from The Wharton School, University of Pennsylvania (USA) and a member of the Institute of Chartered Accountants of India.
Other members of the VLCC Health Care Limited Board of Directors include Mr. Mukesh Luthra as Chairman, Ms. Shabana Azmi, Mr. Sanjay Mehta and Mr. Sanjay Kapoor as Independent Directors, Mr. Sameer Sain and Mr. Alok Oberoi as Nominee Directors from investors and Mr. Sandeep Ahuja as Managing Director.
Founded by Mrs. Vandana Luthra as a beauty and slimming services centre in 1989, VLCC Health Care Limited is recognized in India and abroad for its comprehensive portfolio of beauty and wellness products and services and also enjoys a high level of consumer trust. As of 31 July, 2015, having among the largest scale and breadth of operations within the beauty and wellness services industry in India, it was serving consumers across 301 locations in 134 cities and 11 countries in South Asia, South East Asia, the GCC Region and East Africa. It has operations in India, Sri Lanka, Bangladesh, Nepal, Malaysia, Singapore, Thailand, UAE, Oman, Bahrain, Qatar, Kuwait and Kenya.
VLCC has among the largest scale and breadth of operations within the beauty and wellness services industry in India. As of 31 July, 2015 it operates 187 Wellness Centres in India and 49 in 10 other countries. It also runs VLCC Institutes of Beauty & Nutrition that have grown to become India’s largest chain of vocational education academies in the beauty and nutrition training segment with more than 60 campuses, training nearly 10,000 students annually and offering courses in multiple disciplines.
VLCC also manufactures, at GMP-certified plants owned by its subsidiaries in India and Singapore, a range of skin-care, hair-care and body-care products. It markets in India, the GCC region and other countries, 169 VLCC branded skin care, hair care, body care products as well as a range of functional/fortified foods. VLCC’s growing distribution network reaches over 72,000 outlets in India, apart from retail outlets in the overseas markets, primarily in the GCC Region, in addition to third party channels and emerging new channels such as e-commerce and teleshopping. A product portfolio of premium skin-care linesunder the BelleWave™, SkinMTX™ and Enavose™ brands of its Singapore-based subsidiary, GVIG,is also distributed by third-party distributors across South East Asia.The company also has a bulk manufacturing and formulation development agreement for its personal care products with a Swiss firm.
As of 31 July, 2015, VLCC had over 4,000 employees, including professionals such as doctors, nutritionists, physiotherapists and cosmetologists.
VLCC Health Care Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offer of its equity shares and has filed a Draft Red Herring Prospectus dated September 23, 2015 (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the websites of SEBI, BSE, NSE at www.sebi.gov.in, www.bseindia.com, www.nseindia.com, respectively and of the Book Running Lead Managers,ICICI Securities Limited, Citigroup Global Markets India Private Limited and Axis Capital Limited at www.icicisecurities.com, http://www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm and www.axiscapital.co.in. Investors should not rely on the DRHP for making any investment decision, and should note that investment in equity shares involves a high degree of risk, and for details see the section titled “Risk Factors” in the red herring prospectus, when available.
Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.