Saturday, 11 July 2015

VLCC announces JV with Korean company ‘Caregen’ to introduce age defying technology

Partners for brands like Dermaheal, RENOKIN and DR.CYJ
Caregen to share technical resources and provide support for clinical trials

Mumbai, 9th July, 2015Premium wellness brand VLCC Health Care Ltd. and Korea’s leading biotechnology and R&D company, Caregen Co.,Ltd. today announced a joint venture for selling Caregen’s range of cosmeceutical brands such as Dermaheal, RENOKIN, and DR.CYJ that provide cutting-edge anti-ageing solutions in 25 countries in Asia, North Africa and East Africa*. The business will be run under a JV Company named VLCC Caregen Pvt. Ltd with 50:50 stake, which also has exclusive rights in India and few other countries.

Caregen will also work with VLCC’s R&D team to conduct studies on various new products and innovations while also providing technical support for clinical trials, if required. Under the agreement, VLCC and Caregen will also share technological resources should they decide to use VLCC’s manufacturing facilities.  In that case, VLCC will manufacture the products to sell them at competitive prices in the respective countries.

Through this partnership, VLCC and Caregen will deliver to the beauty and wellness industry in India, highly innovative and efficacious solutions that are gaining popularity globally.

“Korean people demand perfection, especially when it comes to skincare products, driving innovation in the industry.  With our tie-up with Caregen, we are bringing the best of Korean technology to our customers” said Mr. Mukesh Luthra, Chairman, VLCC Group. “Caregen’s products and solutions will complement and enhance our existing portfolio, which comprises of products from India, Malaysia, Singapore and Switzerland.” 

Korean skincare products are fast-rising in popularity globally owing to their consistent investments in R&D. Deep-rooted in skincare treatment rituals; Korea provides high-end technology at highly competitive prices. “Every marketer who is looking at expanding their portfolio of high-performance products, will sooner or later turn to Korea”, Mr. Luthra added.

“We are very proud to be partnering with VLCC. The company is a respected multinational with 25 years of experience in the industry and this collaboration will open up a whole new market for us,” said Mr. Yongji Chung, CEO, Caregen Co., Ltd.

Caregen’s Dermaheal brand makes high quality cosmeceutical products which contain its state-of-the-art growth factors and biomimetic peptides. Dermaheal products take care of anti-ageing, anti-pigmentation, anti-hair loss and hair regrowth, anti-inflammation and other skin troubles with homecare and professional care lines.

Caregen’s top selling products which VLCC will be introducing in the Indian market include: Dermaheal Eye Filler Mask, a high concentration of active ingredients which hydrates and soothes the sensitive skin around the eyes while helping it look younger, RENOKIN Hair Revitalizing Program, a scientific haircare program proven by the sophisticated mechanism of active ingredients and human clinical tests. Its ten active ingredients include the world’s strongest and safest hair re-growth activators, CG-Nokkin, CG-Keramin2 and CG-WINT, and DR. CYJ Hair exCell Serum, a professional and specialized peptide complex for hair re-growth and scalp reconstruction treatment with guaranteed results.

These will be incorporated in VLCC’s beauty therapies and will also be distributed through the company’s wellness centres.

*Asia (India, Bangladesh & Nepal), Israel, North Africa (Algeria, Libya, Sudan, Tunisia, Western Sahara) and East Africa (Comoros, Kenya, Madagascar, Malawi, Mauritius, Mayotte (France), Mozambique, Reunion (France), Rwanda, Seychelles, South Sudan, Tanzania, Uganda, Zambia, Zimbabwe, Nigeria).

About Caregen Co., Ltd.

Caregen Co., Ltd., is a global leader of research and marketing of Biomimetic peptides and Growth Factors.  Caregen is not only the world’s first company to register many Growth Factors in the PCPC (Personal Care Products Council, formerly CTFA), but also possesses various Biomimetic Peptide patents around the world.  Also, Caregen’s double-layered capsulation technology improves penetration of active ingredients into skin and continues with Skin Stem Cell research.  Caregen has research and business collaborations with well-known global brands like Revlon, la prairie and P&G, amongst others.

Caregen Co. provides complete skin care solutions through dermatologists, plastic surgeons, medi-spas, and other skin care professionals in the United States and in over 130 countries worldwide under the Dermaheal, RENOKIN, REVOFIL and DR. CYJ brands and under private brands. Also, Caregen Co. is expanding business through JVs in Taiwan, Hong Kong, China, India and United States to provide customised solutions to each country.

Caregen Co. has successfully prepared the requisite documents for completing our IPO.  We are pleased to soon be listed as a valuable member of the Korean Stock market in September 2015. 

About VLCC Group

Founded by Mrs Vandana Luthra in 1989, VLCC is widely recognized in India and abroad for its holistic, scientific and natural weight-management practices and therapeutic beauty solutions addressing the mind and body. Today, operations spanning over 300 locations in 143 cities and direct company managed operations in 14 countries, VLCC: 

§  Manages one of the largest chains of Wellness (Slimming, Beauty & Fitness) Centres across Asia
§  Runs possibly Asia’s largest network of vocational education academies, VLCC Institute of Beauty & Nutrition
§  Manufactures in Switzerland and the company’s plants in India and Singapore over 300 skincare, haircare and bodycare products under the VLCC Natural Sciences™, SkinMTX™, BelleWave™ and Enavose™ brands, which are not only used as consumables in treatments and therapies at all VLCC Wellness Centres globally but is also retailed through over 80,000 outlets in 33 countries across South Asia, the Gulf Cooperation Council (GCC) countries and South East Asia
§  Employs over 4,000 professionals, including medical doctors, nutritionists, physiotherapists and cosmetologists from over 39 nationalities
§  Has direct, company managed operations in India, Sri Lanka, Bangladesh, Nepal, Malaysia, Singapore, Thailand, UAE, Oman, Bahrain, Qatar, Kuwait, Saudi Arabia and Kenya. 

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