Indian beauty and wellness company VLCC has secured Rs 110 crore ($11.7 million) from BlackSoil Capital to fund its growth plans, according to an announcement.
The financing comes as VLCC, backed by global investment firm Carlyle, expands its businesses across beauty and wellness services, personal care products, vocational education, and international markets.
Established in 1989, VLCC has so far built a presence in Bangladesh, Nepal, Singapore, the UAE, Oman, Qatar, and Kuwait outside its home market.
The capital will be used for its ongoing business needs and expansion, including its product portfolio and store network, the company said in a media statement.
“This financing will enable us to pursue our growth plans across our businesses, including new product introduction and store network expansion,” said Deepak Taluja, CEO at VLCC.
“With increasing demand for organised beauty and wellness services and products, we remain focused on enhancing customer experience, expanding our reach, and building a stronger, future-ready platform,” he added.
BlackSoil Capital provides credit to high-growth companies across sectors. Its portfolio includes 11 unicorns and 14 publicly listed companies.
“The company [VLCC] has built a strong operating platform and is well-positioned to capitalise on the significant growth opportunity within India’s expanding beauty and wellness industry,” said Ankur Bansal, managing director at BlackSoil.
Its brands include VLCC, its personal care business, and men’s grooming brand Ustraa, which it acquired in 2023. The group also operates the VLCC Institute of Beauty & Nutrition, which provides training in beauty and wellness.
Global investment firm Carlyle acquired a majority stake in VLCC in 2023.
