Carlyle has acquired a majority stake in VLCC, which specialises in branded skin care products and high-end specialised beauty and wellness services
VLCC was founded in 1989 by Vandana and Mukesh Luthra
Indian skin care and beauty brand VLCC has received an investment boost from private equity firm Carlyle.
The global investment company said it has acquired a majority stake in VLCC to accelerate the business’ growth.
Carlyle accredited overall confidence in India’s long-term economic and domestic consumption growth fueled the beauty acquisition.
The decision was also supported by a reported shift in preference towards established brands amongst the rising middle-class in India.
Founded in 1989 by Vandana and Mukesh Luthra, VLCC offers branded skin care products and high-end specialised beauty and wellness services.
VLCC’s hero products consist of facial kits as well as an extensive product portfolio of sun care products.
“We believe VLCC is well-positioned to capture a larger share of the fast-growing skin care, beauty and wellness market in the countries we operate in,” says Vandana Luthra, founder of VLCC.
“We are delighted to have found in Carlyle a partner who shares our vision and plans for taking VLCC to its next level of growth.”
The news comes after Gurveen Singh was appointed as an Independent Director to VLCC’s board.
Singh was previously Chief Human Resources Officer at British multinational consumer goods company Reckitt Benckiser.
“We are excited to invest in and support the growth of VLCC, a homegrown and trusted Indian brand with high brand salience,” said Amit Jain, Managing Director and Co-Head at Carlyle India Advisors.
“We plan to help VLCC accelerate growth through investments in brand building, product expansion, scaling its pan-India digital and e-commerce distribution channels and expanding its local footprint of retail clinics.”