V Ultimate Wellness eyes listing on Bursa Malaysia next year
KUALA LUMPUR 23 August 2019 : V Ultimate Wellness Bhd, a beauty services company which has been growing exponentially since its establishment 14 years ago, is on track for a listing on Bursa Malaysia’s ACE Market in the second quarter of next year.
Business development director Jaime Terauds said if the listing exercise were successful, the group planned to open up more outlets in the country as well as expanding overseas, particularly China and underserved markets such as Australia and New Zealand.
“With our brand diversity, long-established track record, profitability and clear strategy for growth, we have created an exciting platform and very healthy narrative upon which to list the company in Malaysia, ” he told reporters after the launch of its subsidiary My Thai Wellness Sdn Bhd’s flagship outlet at Cititel Mid Valley here today.
On the outlet expansion plan, Terauds said the group was on track to open 40 outlets across the country over the next 18 to 24 months.
The key brands under the wellness segment which will be driving the group’s business are MY Thai, MY Thai Express and MY Tradisi, a more shariah-compliant offering to serve the Muslim market which will be launched next month.
MY Thai has positioned itself as a luxury family spa and finest wellness therapy treatment at affordable prices and is set to be one of the largest Thai therapy brands in Malaysia.
To date, the group has expanded its services to 30 outlets nationwide.
On sales, he said the group was targeting to hit RM36 million this year, up from RM22 million in 2018.
Terauds said the group was confident of capturing a larger market amid the burgeoning demand seen in the country’s wellness and aesthetic beauty industry.
V Ultimate Wellness Bhd was established in 2005 and is among the top beauty services providers in Malaysia.
It uses cutting-edge technology in skincare, aesthetic, slimming treatments and hair care product solutions under four major existing brands, namely, Dr Nano, Ava, My Thai and H2G. – Bernama