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Established in 1989, VLCC (www.vlccwellness.com) is a well-known beauty and wellness brand, spanning wellness, weight-management and beauty services, personal care products, nutraceuticals and skill development institutes.
VLCC has built a sizeable international business in 12 countries over the past 32 years serving almost 10 million customers in the last 10 years alone. It directly employs nearly 3,000 professionals, including medical doctors, nutritionists, physiotherapists, cosmetologists and fitness experts.
It has an established footprint of 310 outlets in 143 cities spanning 12 countries, including 216 VLCC wellness and beauty clinics across South Asia, the GCC region and East Africa as well as 94 VLCC Institutes of Beauty & Nutrition across 67 cities in India.
VLCC also operates 3 manufacturing plants – 2 in India and 1 in Singapore – to produce over 118 skin-care, hair-care and body-care products that have been developed in-house and are retailed from over 110,000 general and modern trade outlets across India, including over 930 beauty advisor manned counters, apart from being used as consumables for treatments and therapies in its wellness and beauty clinics and Institutes. These personal care products are also sold in global markets including salons and aesthetic dermatology clinics in the South East Asia region.
In the weight management services segment (excluding gyms), VLCC is the largest player in the GCC region with the maximum number of wellness clinics to cater to the growing market(1). Further, in laser and aesthetic dermatology segment, VLCC is one of the leading players in GCC region(1). The majority of market participants in the GCC region are present in only a few segments. VLCC is the lone exception with a comprehensive service portfolio. VLCC has created a meaningful presence across salon services, wellness and weight management treatments, beauty treatments, aesthetic dermatology and alternative therapies among others and offers the widest breadth of services among the participants who are present in most of the countries in the GCC region(1). It is also one of the largest players in the wellness and beauty services industry in India, with the widest footprint of company operated clinics (1).
(1) Source : Report titled “Wellness and Beauty Industry report in India and GCC” dated July 15, 2021 prepared by Frost and Sullivan
THE WELLNESS AND BEAUTY INDUSTRY IN THE GCC REGION 2
Wellness and beauty products and services revenue in the region reached an estimated $30.6 billion in 2020 and is expected to climb to $46.6 billion by 2025. While demand dropped in 2020, due to a combination of Covid-19 pandemic-related lockdowns and related factors, consumer demand for products and services that will make them feel and look good is returning.
The wellness and beauty market in the GCC region is poised to grow around 8-10 per cent in the next five years, and it is expected key players such as VLCC, Kaya Clinic, Cosmesurge who have successful experiences operating wellness and beauty clinics in the GCC countries, are well positioned to benefit from market growth in the wellness and beauty segments.
The beauty care and salon industry holds about 25 per cent share of the overall wellness and beauty services market while fitness, as well as spa and alternate therapy, share the remaining 75 per cent. In terms of growth, the beauty care and salon industry is expected to grow at a CAGR of 9-10 per cent between 2020 and 2025. The fitness industry, as well as spa and alternate therapies, are expected to grow at a CAGR of 4-5 per cent and 9-10 per cent respectively during the same period.
1 Source : Report titled “Wellness and Beauty Industry report in India and GCC” dated July 15, 2021 prepared by Frost and Sullivan
VLCC Wellness and Beauty clinics
VLCC operates 20 wellness and beauty clinics across the UAE, Oman, Bahrain, Kuwait, Qatar and Kenya and 111 such clinics across South Asia, including India, Sri Lanka, Bangladesh and Nepal.
These clinics provide comprehensive wellness and beauty solutions, catering to a broad spectrum of clients’ needs across service categories, such as:
•Wellness therapies, including immunity boosting packages and post Covid-19 recovery programmes;
•Weight management packages, delivered through nutrition management, physical activity regimen and behavioural counselling;
•Body contouring using advanced USFDA approved appliances;
•Advanced beauty treatments and therapies for skin and hair;
•Minimally invasive aesthetic dermatology procedures;
•Laser hair reduction;
•Regular beauty parlour services, including hair styling, hair colouring, grooming, etc.
These clinics also retail VLCC personal care products that are often adjunct to the wellness or beauty packages.
VLCC is the only brand whose wellness and weight management programmes carry the “Recommended by Indian Medical Association” stamp of approval. The Indian Medical Association (IMA) is India’s national organisation of doctors of modern medicine, with a membership base of over 330,000 doctors.
Personal Care Products
Starting with retailing products at its own clinics, VLCC has built a fully independent, broad-based product business which is now a mainstream personal care and wellness brand. The carefully curated product range includes skincare and haircare lines (e.g., sunscreen lotions, shampoos), specialty products (e.g., facial kits, manicure-pedicure kits), body-shaping products (e.g., Shape Up™) and nutraceuticals (VLCC Wellcience™).
The VLCC products brand has positioned itself as a “natural sciences” player, on the platform of natural, functionally effective and aesthetically appealing. The brand is backed by strong in-house R&D and two modern manufacturing plants in India and one in Singapore. A robust distribution system has been built over the years, with the brand selling through 110,000+ points of presence India, apart from the other countries it operates in including covering salons, spas and aesthetic dermatology clinics.
VLCC Institutes of Beauty & Nutrition
One of the key opportunities in the wellness and beauty domain is the gap in training and the resulting paucity of a highly skilled workforce. Recognising this gap, VLCC opened exclusive institutes to teach entry-level and advanced level skill enhancement courses in beauty and nutrition.
VLCC believes its institutes extend the brand’s mission of transforming lives by helping create employment and entrepreneurial opportunities, especially for women, to enable their financial independence. It currently operates 94 Institutes, located in 67 cities across India, training nearly 10,000 students annually.
With over 30 years of operations, the VLCC brand is well known and enjoys a high level of trust by customers and has been recognised as a “Superbrand” by Superbrands GCC in 2016 and Superbrands India in 2017. This is also reflected in VLCC’s recognition as one of India’s most trusted brands in the wellness sector in the annual India’s Most Trusted Brands Survey from 2015 to 2019.
It has evolved from a “weight management services” brand to a holistic “wellness and beauty” brand, having successfully expanded its brand equity within the wellness and beauty domain to span wellness and beauty services, personal care products, and skill development in beauty and nutrition, and has simultaneously profitably extended its brand reach to address the needs of international customers across ethnicities in the GCC Region, East Africa, South Asia and South East Asia.
There is huge opportunity in the fast-growing wellness sector, which in the post Covid-19 era will become even more relevant for consumers of all ages, given the heightened awareness towards proactive and preventive healthcare and wellness. There is immense potential of new opportunities as spending on health and wellness has become a necessity rather than discretionary, making business highly scalable. Further, with the advent of digitisation and maturing e-commerce ecosystem, the wellness and beauty industry is set on the trajectory of becoming boundary-less and customer-age agnostic rather than getting constrained by the physical presence, thereby making businesses more profitable and sustainable. VLCC believes these factors will aid it in continuing to deliver scalable and sustainable growth.
VLCC’s goal is sustainable, competitive, profitable, and responsible growth for the overall business, through a comprehensive strategy leveraging its category leading brand, scale, and bespoke, integrated business model. The brand will seek to achieve this through the following:
•Leverage technology and digital initiatives across its businesses for transformation into a digitally led, future-ready wellness and beauty enterprise with an omni-channel presence;
•Accelerate growth of the personal care products business;
•Increase pace of expansion of VLCC wellness and beauty clinics and VLCC institutes and capitalise on the experience in the GCC region to explore new opportunities in untapped markets in the GCC region;
•Enhance same store sales growth;
•Continue to build on brand visibility and customer loyalty.
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