VLCC plans $54.5-mn expansion in Middle East, IPOFebruary 17th, 2008 - 9:34 pm ICT by admin
Dubai, Feb 17 (IANS) Indian preventive healthcare and beauty-care brand VLCC has announced rolling out of a 200 million-dirham ($54.5 million) expansion across the Middle East and plans of an initial public offer (IPO) by 2009. The company will now open as many as 35 centres across the Middle East by 2010 instead of its originally planned 28, local media reports quoted VLCC Chairman and Managing Director Mukesh Luthra as saying at the opening of the chain’s seventh centre in the United Arab Emirates (UAE) at Al Qusais here.
“The opening of this centre is part of VLCC’s aggressive 200 million-dirham rollout in the Middle East. In the next six months, apart from additional centres in Dubai and Abu Dhabi, the company will have operating centres in Oman, Bahrain, Kuwait and Qatar,” he said.
“The first centre in Muscat (Oman) is scheduled to open in March 2008.”
Luthra said the company would announce plans for an IPO later this year.
Tags: 5 million, abu dhabi, bahrain, beauty care, initial public offer, ipo, kuwait, local media, luthra, managing director, muscat oman, preventive healthcare, qatar, rollout, six months, uae, united arab emirates, vlcc