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Vikas Lifecare Acquires 60% stake in SKY 2.0 Club, Dubai for US$ 79 Million

  • January 23, 2024
  • 2 min read
SKY2.0 Club, Dubai

The nightclub business on the global level aggregates about US$ 31.46 billion

Vikas Lifecare Limited makes the largest investment till date, in acquisition of major stakes in the renowned SKY2.0 Club, Dubai.

The acquisition is a share swap deal signed between Vikas Lifecare Limited and the holding company Blue Sky Event Hall FZ-LLC, Dubai, for acquisition of 60% stakes in the SKY 2.0 Club business and all future business ventures in the relevant business segment at an enterprise valuation of about US$ 130 Million. The acquisition process shall be completed within this Fiscal Year.

The SKY 2.0 is the largest nightclub in the Middle East and Asia, a striking standalone, Open-Air Venue anchored in the heart of the upscale “Dubai Design District”.

The SKY 2.0 is unlike any other venue is an experiential trailblazer that promises memorable evenings literally under the Skies, offering world-class entertainment, ground-breaking technology and exemplary service. It offers an interactive experience by employing modern technology in the venue.

SKY 2.0 recorded about US$ 22.10 million of gross revenues accrued from the business during 2023, with about 38.80 % net profit margin and about 36 % growth in revenues registered while comparing with the preceding Year.

The nightclub business on the global level aggregates about US$ 31.46 billion while accelerating at a CAGR of 8.07%, whereas on one hand the home turf for VLL, India with 25% of the population aged below 25 Years surfing on the surge in disposable income of Indians, growing at an exorbitant 17.4%, and the shift towards modern cultural paradigm, offers a Huge, Virgin and Niche Market, which is merely a dot in the numbers put up by the global revenues generated from the Clubbing Businesses.

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