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India's VLCC Acquires Majority Stake in Singapore-based Beauty Company
Posted: August 21, 2013
Indian 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 a complete range of globally reputed beauty and wellness products and solutions worldwide.
The GVig acquisition is VLCC’s second overseas acquisition in less than a year and is congruent with VLCC’s strategy to expand its presence in the wellness domain in key markets overseas. In November 2012, VLCC had bought a majority stake in Wyann International, a slimming and beauty services provider in Malaysia.
GVig is a leading provider of beauty and wellness solutions in Southeast Asia through its three subsidiaries—BelleWave Cosmetics, Celblos Dermal Research Centre, and Enavose Life Science Research.
Mukesh Luthra, chairman of 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 Southeast Asia by complementing the existing VLCC Natural Sciences 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,” Luthra added.
Luthra, moreover, pointed out that following the GVig acquisition, the VLCC Group would gain access to the company’s R&D laboratory and manufacturing facility in Singapore, which would enable VLCC to come up with cutting-edge wellness products and solutions at a faster pace. Currently, the VLCC Group has two factories in India located at Haridwar and Dehradun, with a third plant about to be commissioned in Bangladesh.
Quality-made in Switzerland, GVig subsidiary BelleWave Cosmetics markets superior lines of professional skin care products, namely BelleWave and SkinMTXT and has a presence in 10 countries, including Singapore, Malaysia, Vietnam, China, Hong Kong, Taiwan, Indonesia, Philippines, Cambodia and Korea. Distributed through more than 2,500 high-end beauty salons and spas, Bellewave is the No. 2 brand in the professional skin care industry in Vietnam, according to a recent independent brand awareness survey involving over 800 agents.
With its in-house R&D laboratory and manufacturing facilities, GVig’s Celblos Dermal Research Centre is a one-stop professional skin care consultant and OEM manufacturer committed to developing skin care products that ride the latest technology and feature innovative breakthrough active ingredients. Celblos has exclusive R&D collaborations with several renowned entities, including government bodies such as the Singapore Economic Development Board and the Agency for Science, Technology & Research, and reputable academic institutions.
Currently distributed through vibrant concept stand-alone stores and beauty counters, GVig’s retail line, Enavose, features a range of innovative Swiss-made skin care and body wellness solutions that harness advances in cellular science research and their applications to nature’s purest ingredients to produce superior products for optimum and enduring beauty and health.
Commenting on the strategic sale, Josephine Song, one of the promoter directors of GVig and now the COO of the company, said, “We are proud that internationally reputed wellness brand VLCC has chosen to partner [with] 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 skin care and wellness products and solutions.”