VLCC, a globally renowned brand in beauty and wellness industry,
today announced its foray into the fast growing nutraceuticals industry with
the acquisition of the Direct Selling business of Wellscience, a
Gurugram-based company that offers a comprehensive range of high quality
nutraceutical supplements and personal care products catering to customer
requirements across age groups.To be rebranded VLCC Wellscience, the
company’s products are all Ayurvedic or herbal and address condition specific
wellness needs of customers, using an innovative Active Identifiable
Marker (AIM) technology.
Commenting on the acquisition, Mukesh Luthra, Chairman,
VLCC Group, said, “Combining its strategy to enter new
and emerging categories in the Beauty and Wellness domain at large with
the strategy to enter new channels of distribution, to reach out to a
larger set of consumers of Beauty and Wellness offerings, VLCC is now further
extending its presence in the high-growth Fast Moving Healthcare
Goods (FMHG) segment, with its foray into the nutraceuticals and
cosmeceuticals segment, and retailing these products through the
Direct Selling channel, which is an emerging opportunity given that
the Government of India has very recently clarified regulations governing
this industry.”
“VLCC is already present in the FMHG segment with its VLCC
Slimmer’s range of fortified/functional foods and expanding to
nutraceuticals and cosmeceuticals is a natural extension our products
business”, Mr. Luthra further added.
Wellscience was established in 2009 by a team led by Lajinder
Bawa. He will continue to lead the business as the CEO of VLCC Wellscience. A
20-year veteran of the Direct Selling Industry, he is credited with having
brought it to the country when he became the founding CEO of Oriflame India in
1995. He has also been an advisor to leading Direct Selling players, including
Modicare and Hindustan Lever Network.
Commenting on the synergy between the two businesses, Mr. Lajinder
Bawa said, “This is a significant step forward for Wellscience. VLCC has been
committed to transforming lives for close to three decades and ensures that its
product lines and service offerings are of utmost efficacy and quality, at all
times. We believe that the brand values of Wellscience are in sync with the
values of VLCC and this partnership will provide us the necessary thrust
required for our next level of growth.”
Within the overall FMCG domain in India, the FMHG segment
is one of the fastest growing. According to a 2015 Assocham-RNCOS
study, this segment is likely to touch US$ 6.1 billion by 2020 from
the current level of US$ 2.8 billion, growing at a compounded annual growth rate (CAGR) of 17 per cent.
More specifically with respect to the nutraceuticals market in
India, it is expected to double to INR 267.64 billion by 2020 and grow at a
CAGR of 16% over the next 5 years, as per a recent study by the Drug Marketing
and ;Manufacturing Association (DMMA).
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