Reps say the company has recently established a factory in Jamalpur, the brand's first in South Asia, outside of India and aims to open more beauty centres and vocational training institutes.
Vandana Luthra, founder of VLCC, says the company has set aside about Tk 200 crore for investments since it launched its operations in Bangladesh in 2010 to focus on skin, hair and sun care products.
Speaking at a press conference at VLCC's Dhanmondi Center Luthra added that; "VLCC has received an overwhelming response in Dhaka since the time we set up our first Slimming, Beauty & Fitness Center at Gulshan three years ago, which prompted us to set up our second Wellness Center in Dhanmondi."
The brand with upwards of Rs 700 crore in turnover in 2012-13, aims to reach Rs 1,000 crore in the next two years.
Bangladesh beauty market on the up
At present, Bangladesh's beauty market is worth Tk 655 crore in annual sales, which is almost three times its value in 2008.
The cosmetics sector has great potential due to the country's rising middle-class population and the increasing health and beauty consciousness among locals, according to Luthra.
The entrepreneur adds that VLCC's products going forward will be affordable and tailored to local preferences and plans to enhance its product distribution network to sell its personal care products in partnership with local distributors.
Investment to raise personal care profile
“VLCC's growing presence in Bangladesh will also play a modest role in strengthening the bilateral business relationship between India and Bangladesh,” adds Luthra.
Last year, the brand bought a majority stake in Global Vantage Innovative Group, a Singapore-based high-end personal care, dermatology products and cosmetics maker.
Currently, it earns around 36% of total revenue from international operations with a plan to increase it to 50%.