VIP Industries Ltd is involved in the manufacturing and marketing luggage, bags, and accessories. The company was incorporated as Aristo Plast Pvt Ltd in 1968. The company commenced operational growth and commissioned a manufacturing plant in Nasik in 1973.  In 1981, it changed its name to VIP Industries Ltd from Aristo Plast Pvt Ltd  It was listed on  BSE in 1986 and established a manufacturing unit in Nagpur during the same year. The company witnessed substantial growth in its operations and started a manufacturing facility in Sinnar in 1995._x000D_ _x000D_ In 2001, the company entered a strategic alliance with Delsey, a French-based luggage maker. It commissioned another manufacturing plant in Haridwar in 2006. With the merger of Aristrocrat in 2008, the company developed meaningful business growth.  In 2012, the company launched a ladies' handbag brand, “Caprese”._x000D_ _x000D_ In 2018, the company surpassed ₹8,900 Crore in market capitalisation, which was its all-time high. During the same year, it started operations of 2nd and 3rd plant in Bangladesh. In 2021, the company was identified as a “Bronze” employer in the IWEI’s (Indian Workplace Equality Index) top employers for 2021. As of November 2023, the company operates 10 manufacturing facilities in India and Bangladesh. It provides services to customers through ~12,000 points of sales across ~1300 towns._x000D_

Business Segments

_x000D_ As of November 2023, the company is engaged in manufacturing and marketing of luggage, bags and accessories. It operates its business through multiple brands listed below;_x000D_

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• VIP: It is the company’s flagship brand and continues to enjoy the highest saliency in the entire luggage category. During 1H FY 2024, this contributed to 24% of overall revenue.
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• Skybags: Skybags is a youth brand launched in 2011 with a mission to make its customers move in style everywhere, every time. It has a retail presence with 10,497 outlets and contributed 31% of overall revenue in 1H FY 2024.
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• Carlton: Carlton brand addresses the luggage needs of young visionaries and leaders relentlessly pursuing the next big idea and revolution. This was launched in 2011 and currently has a retail presence with 1,442 outlets. The brand derived 5% revenue in 1H FY2024.
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• Aristocrat: Aristocrat caters to the demands of the frequent travellers of the Indian heartland, which was launched in 1998. The brand has a rich retail presence with 10,016 outlets.
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• Alfa: Alfa is popularly known as the value-for-money brand from the VIP Industries Ltd house. This brand was launched in 1987. It derived 39% of revenue from presence, Aristocrat in 1H FY 2024.
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• Caprese: Caprese offers an avant-garde range of handbags and accessories for urban women. This brand derived a 4% revenue contribution in 1H FY 2024.
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_x000D_ Subsidiaries_x000D_ _x000D_ As of March 2023, the company had 5 subsidiaries and a few of them are listed below:_x000D_

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• VIP Industries Bangladesh Private Limited: It is a wholly-owned subsidiary that manufactures luggage in Bangladesh.
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• Blow Plast Retail Limited: This wholly owned subsidiary was formerly known as Aristo Plast Pvt Ltd, which was in the business of PVC Footwear, PVC Insulating Tapes, etc.
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Key Personnel

_x000D_ Mr. Dilip G Piramal, Chairman_x000D_ _x000D_ Mr. Dilip G Piramal is a Commerce graduate and an experienced industrialist who has pioneered the luggage industry in India. He has more than 50 years of experience in the luggage industry._x000D_ _x000D_ Ms. Radhika Piramal, Executive Vice Chairperson_x000D_ _x000D_ Ms. Radhika Piramal is a graduate of Oxford University and has an MBA from the Harvard Business School. Before joining VIP Industries, she worked with Bain & Company, New York, as a Management Consultant and was also associated with Carlton Travel Goods Limited, London. She has over 10 years of experience managing and strategising the luggage, bags, and other travel accessories business._x000D_

Corporate Actions

_x000D_ The company has no history of bonus issues, stock splits, or other corporate actions.