Bajaj Electricals (BEL) has entered into a Trademark License Agreement with Morphy Richards (of UK origin) to renew the exclusive license for use of trademark ‘Morphy Richards’ by the Company in relation to the products procured from the manufacturers and/or imported from any other country for marketing the same in India and other countries, for a further period of five years from April 25th, 2017, on payment of royalty.
BEL has been procuring the products from the manufacturers and/or importing from other countries for marketing the same in India under the License User Agreement since April 2002, and has established the brand well in the premium segment. With the renewal of license, the Company would be able to leverage its brand positioning in Indian markets as well as SAARC countries to further consolidate and gain a considerable market share.
Commenting on this, Anant Bajaj, Joint Managing Director, Bajaj Electricals, said, “We have been together since 2003 and have been exclusively dealing with their products in India, Nepal, and Bhutan until now. So, this time, we’re taking on more areas with much more interesting and innovative products, and for the first time, their entire product ranges will be made available in the Indian market. Some products are planned to be launched in India first before a global launch. So, we are thrilled for the next five years of our association with Morphy Richards and much more. We look forward to give smart ideas to the homes of our family of customers.”