VLCC makes overseas acquisition
Acquired a majority stake in Singapore-based Global Vantage Innovative GroupAugust 13, 2013 | comments ( 0 ) |
Premier wellness brand VLCC has acquired a majority controlling stake in Singapore-based Global Vantage Innovative Group (GVig) which owns and operates three companies that manufacture and retail worldwide a complete range of globally reputed beauty and wellness products and solutions. It is worth noticing that GVig is a leading provider of beauty and wellness solutions in South-East Asia through its three subsidiaries BelleWave Cosmetics, Celblos Dermal Research Centre, and Enavose Life Science Research.
Marking the development, Mukesh Luthra, Chairman, VLCC Group, said: “We are delighted to welcome GVig into the VLCC family as it will allow us to leverage GVig’s strong brand equity and its excellent portfolio of wellness products and solutions to establish an even stronger footprint in important markets in South-East Asia by complementing the existing VLCC Natural SciencesTM range of skin, hair and body-care products.”
“With GVig Singapore now, and the Wyann Malaysia acquisition last year, VLCC will not just be in a strong position to offer the best in beauty and wellness solutions and services to customers in Singapore and Malaysia, but across the entire region. VLCC will also be on a very good footing to obtain market leadership status in more countries,” Mr. Luthra added.
Commenting on the strategic deal, Ms. Josephine Song, said, ”one of the promoter directors of GVig and now the Chief Operating Officer of the company, said: “We are proud that internationally reputed wellness brand VLCC has chosen to partner us in our quest to offer customers best-in-class wellness products and solutions. We look forward to working closely with VLCC to become a global leader in providing innovative skincare and wellness products and solutions.”
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