Bajaj Electricals jumps on renewing brand license with Morphy Richards

Bajaj Electricals (BEL) rose 2.62% to Rs 1065.60 after the company said it renewed trademark license agreement with Morphy Richards for fifteen years.

BEL has extended its trademark agreement with United Kingdom-based Morphy Richards for usage of the Morphy Richards trademark for a further fifteen years with effect from 1 July 2022.

The extension of the exclusive license will enable BEL to continue using the trademark Morphy Richards for producing, marketing and selling the home appliances in India and neighbouring territories (Nepal, Bhutan, Bangladesh, Maldives and Sri Lanka).

BEL has been exclusively offering this international brand to Indian consumers since April 2002 and has established it well in the premium home appliances segment.

With the license renewal, the company will be able to further strengthen its multi-brand offerings and position in the Indian and neighbouring territories.

Globally, Morphy Richards is known for its premium range of home appliances and personal care products.

Anuj Poddar, executive director, BEL said, "Since 2002, we have offered the exclusive Morphy Richards product range to discerning Indian consumers. We are proud to have made it the most successful international brand offering in its category in India. The agreement is being extended for 15 years for the first time. This will allow us to plan and grow the Morphy Richards business with a long-term view, thereby enabling superior value creation."

BEL is a part of India's leading business conglomerate "Bajaj Group". With a business portfolio that spans across consumer products (appliances, fans, lighting) and EPC (illumination, power transmission and power distribution), BEL also has a strong presence in premium home appliance and cookware segments with brands like Morphy Richards and Nirlep.

On a consolidated basis, BEL's net profit fell 51.14% to Rs 48.21 crore on 12.21% fall in net sales to Rs 1,305.94 crore in Q3 FY22 over Q3 FY21.

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