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Carlyle Group Acquires Majority Stake in VLCC For $300 Million

Carlyle Group, a private-equity firm, has acquired a majority stake in Indian beauty care and wellness solutions provider VLCC for around $300 million.

The Carlyle Group Logo
The Carlyle Group Logo

The transaction's equity will come from funds managed and advised by entities affiliated with Carlyle Asia Partners.Carlyle said that Vandana Luthra and Mukesh Luthra, the founders of VLCC, will continue to hold a significant stake in the company without sharing further details.

VLCC's Online Sales Increased to 22%

VLCC has seen its online sales increase from 7% to 22% in the past three years, helping the skincare and beauty products brand gain a distinct value proposition. Amit Jain, Managing Director and Co-head of Carlyle India, said, "In a crowded market, having a distinct value proposition with high product efficacy and an established brand is very valuable, and that's what VLCC has. "

India's Beauty and Personal Care Industry to Reach $27.5 Billion by 2025

India's beauty and personal care industry is expected to grow to $27.5 billion by 2025 from $17.8 billion in 2020, according to estimates by Indian financial services firm Avendus. In December, the parent of Indian personal care products startup Mamaearth filed for an initial public offering.