Top Story

e4m_logo.png

Home >> Marketing >> Article

VIP to acquire Carlton luggage brand

31-March-2004
Font Size   16
VIP to acquire Carlton luggage brand

The Dilip Piramal-promoted VIP Industries is acquiring the Carlton luggage brand from the UK-based Carlton International for an undisclosed sum.

The company is in the process of acquiring Carlton’s trademark and other intellectual property rights, moulds, plant and machinery, among other things.

It has informed the Bombay Stock Exchange that its bid for acquiring certain assets of Carlton, which is under liquidation, has been accepted.

VIP is also setting up a wholly owned subsidiary in London, which will help it to intensify its export efforts and exploit the potential of the Carlton brand worldwide.

Piramal refused to divulge details of the proposed acquisition.

For the year ended March 31, 2003, VIP Industries reported a net profit of Rs 4.59 crore, against Rs 3.54 crore in the previous year. Its revenue stood at Rs 282.62 crore in 2002-03, compared with Rs 267.49 crore in the previous year.

The luggage business accounted for the bulk of the company’s turnover with Rs 253.65 crore coming from the domestic market alone. The moulded furniture business contributed Rs 48.13 crore in the last financial year.

The company has a overseas joint venture company in Bangladesh called VIP Nitol Industries. It recently closed a factory at Jalgaon in Maharashtra.

VIP Industries exports to Europe and the Gulf and has a presence in Africa.

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Mumbai was chosen in keeping with the company's focus on featuring their proprietary technologies over undiscovered markets like South Asia

The campaign, featuring brand ambassador Farhan Akhtar, exhorts consumers to showcase their achievements through the walls of their homes.

We list a few important stories that you may have missed in the week gone by