With immediate effect, Vikas Gupta, the former CEO of Nykaa SuperStore, has been named CEO of the cosmetics and skincare company VLCC.
The news follows one from global investment firm Carlyle, which announced a strategic alliance with VLCC through the acquisition of a majority stake in the business in December 2022 and has $369 billion in assets under management, as per reported by VCCircle.
“We are excited to welcome Vikas as the Group’s CEO. He brings multi-decadal, global experience in building leading consumer brands and digital platforms. Vikas will focus on business growth, leveraging technology and customer centricity to bring the best of beauty and skincare propositions to the Indian market. I am confident that the organization will benefit from his leadership,” Amit Jain, Managing Director and Head, Carlyle India Advisors said.
Mrs. Vandana Luthra founded VLCC in 1989 as a centre for beauty and slimming services. Now, VLCC is well known for its extensive lineup of wellness and beauty goods and services and enjoys a high degree of customer confidence.
Commenting on his appointment, Gupta said VLCC will continue to build on its strengths, while also exploring new opportunities for growth and expansion. “Our focus will be on creating value for our stakeholders and making a positive impact in the beauty and skincare industry,” he added.
The VLCC Group’s operations currently span 330 locations in over 150 cities and 14 countries across Asia and Africa, including India, UAE, Saudi Arabia, Oman, Bahrain, Qatar, Kuwait, Kenya, Sri Lanka, Bangladesh, Nepal and Singapore.