VIP Industries Limited Market Research Report
Company Overview
Name: VIP Industries Limited
Mission of the Company: Building enriching partnerships, pride of leadership, and delightful experiences through innovation in all that we do.
Founded: 1968, incorporated as Aristo Plast Pvt. Ltd.
Founder: No specific founder mentioned.
Key People:
- Mr. Dilip G. Piramal, Chairman
- Ms. Radhika Piramal, Executive Vice Chairperson
- Ms. Neetu Kashiramka, Managing Director
- Mr. Ashish Saha, Executive Director
- Mr. Tushar Jani, Independent Director
- Mr. Ramesh Damani, Independent Director
- Mr. Amit Jatia, Independent Director
- Dr. Suresh Surana, Independent Director
- Ms. Payal Kothari, Independent Director
- Mr. Manish Desai, Chief Financial Officer
Headquarters: Mumbai, India
Number of Employees: 8,343
Revenue: Rs. 2,200 crore (expected in FY23)
Known For: VIP Industries Limited is known for being Asia's largest and the world's second-largest luggage manufacturer, providing a variety of travel gear, including luggage, backpacks, and handbags. It has a strong presence in India and a growing global footprint in over 45 countries.
Products
Brands & Products
1. VIP
- High-Level Description: VIP is the flagship brand known for innovative travel solutions.
- Key Features: Products like "workation collection" with laptop compatibility in hard luggage and "Tech series" with built-in proximity indicator.
2. Carlton
- High-Level Description: Targets young visionaries and leaders, synonymous with instinct, passion, and innovation.
- Key Features: Campaign 'The New Face of Business' reflects the new generation's qualities.
3. Skybags
- High-Level Description: Youth-oriented brand focused on style and functionality.
- Key Features: First Indian brand to offer waterproof backpacks and printed polycarbonate luggage.
4. Aristocrat
- High-Level Description: Targets the frequent traveler with durable and affordable products.
- Key Features: Wide range of products, from soft uprights to hard suitcases and vanity cases.
5. Caprese
- High-Level Description: Offers handbags and accessories for urban women, inspired by the isle of Capri.
- Key Features: Sleek cuts, indulgent voice, and style testament for women.
6. Alfa
- High-Level Description: Value-for-money brand.
- Key Features: Durable hard and soft luggage options, offering dependable quality at an affordable price.
Recent Developments
Recent Developments (2018 - 2024)
1. 2018:
- Crossed Rs. 8900 Crores of market capitalization.
- Commenced operations of 2nd and 3rd plants at Bangladesh under "VIP Industries BD Manufacturing Pvt. Ltd."
2. 2019:
- Rebranded with Saif Ali Khan and Kareena Kapoor Khan as brand ambassadors.
- Operations of 4th, 5th, and 6th Bangladesh plants commenced.
- Won “Economic Times India’s Best Companies to Work For 2019” and “Economic Times India’s Best Workplaces in Manufacturing Award 2019.”
3. 2020:
- Recognized as a "Bronze" employer in IWEI's (India Workplace Equality Index) Top Employers for 2020.
4. 2021:
- Recognized again as a "Bronze" employer in IWEI’s Top Employers for 2021.
New Partnerships & Campaigns:
1. Skybags & Kartik Aaryan:
- Appointed as brand ambassador for Limited-Edition FIFA Luggage Collection.
2. Caprese & Tara Sutaria:
- Collaboration on a new collection inspired by Mediterranean palettes.
Financial Projections & Strategic Outlook
- VIP Industries expects to exceed Rs. 2,200 crore in revenue for FY23, driven by robust second-half performance and increasing travel demand.
- Focus on increasing margins by 2% in the second half of the fiscal year.
- Strategizing on e-commerce and digital sales, adjusting ad spend to focus more on social media presence.
This market research report consolidates the key aspects and recent developments of VIP Industries Limited, providing an in-depth overview of the company's current positioning in the market.
