VLCC Institute, the vocational beauty education business of VLCC, is being sought to be hived off as a separate company from the parent company, VLCC Health Care Limited. VLCC Institute, which at present has 40 educational institutes in the country, in about 34 cities, is looking at adding another 20 VLCC Institutes, by the end of the financial year 2008-09.
Speaking to Indiaretailing, Ashish Kirpal Pandit, divisional chief operating officer- education business, Indian subcontinent and head of business and senior vice president – corporate affairs, group companies- Indian subcontinent, said, “We are in the process of getting the regulatory approvals for hiving off VLCC Institute as a separate company. At this point, we can not state any time frame for the process”.
Pandit also said that the parent company, VLCC Health Care Limited, will be seeking a possible initial public offering (IPO), next year.
At present, the VLCC Group, serves as an umbrella for all its other brands – VLCC Health Care Ltd, VLCC Personal Care Ltd and VLCC Institute of Beauty, Health and Management.
Presently, the size of the vocational beauty education market is estimated at around Rs 110 crore and the VLCC Institutes are growing at 100 per cent annually. The company adopts both the company owned and the franchise model for expanding its educational institutes and is focusing on the tier II and III cities.