V I P Industries Ltd

V I P Industries Ltd

VIP Industries Limited is amongst Asia's leading manufacturers and suppliers of luggage backpacks and handbags and the market leader in the organised luggage segment. The Company has a range of leading brands positioned across the entire price range catering to value (Aristocrat) mid (VIP Skybags) and premium (Carlton Caprese) price points. Promoted by Mr. Dilip G Piramal the Company's manufacturing infrastructure includes two state-of-the-art units in India and six in Bangladesh which are equipped with modern technologies. Moreover its strong distribution network gives easy access to VIP luggage everywhere in India via 5883 points of sale across exclusive stores multi-brand stores large format retail defense canteens and e-commerce. Presently it is engaged in manufacturing and marketing of luggage bags and accessories. VIP Industries Limited (Formerly Aristo Plast Limited) was incorporated in January 27 1968. In 1971 The Company became a wholly owned subsidiary of Blow Plast Retail Limited. The company came out with a rights issue in Nov.'93 for expansion modernization and balancing its plants located at Nashik Jalgaon and Sinnar.In 1997-98 it increased the installed capacity of its injection/vaccum moulded plastic goods by 1000 MT. During the year 1999-2000 the company's exports increased from 14.91 crores from the previous year to 15.49 crores in the current year registering a growth of 4%.The company has entered into technical collaboration with Delsey S A France for manufacturing some of their premium range suitcases & briefcases.During FY 2015 the Company launched `Verve' a polycarbonate range under the VIP brand for promotion through television campaigns and featured distinctive design and colors which were well received by consumers. During the same year the company launched Ladies Hand Bags category under the brand 'Caprese'. Caprese is now available at more than 500 points of sale across the country many distribution channels including select Company-run exclusive stores franchisee stores multi brand dealers and leading departmental chains like Shoppers Stop Lifestyle and Central as well as e- commerce platforms. In the Soft luggage segment 'Skybags' brand has done extremely well and grew in all luggage brands. It is successfully executing its multi brand - multi segment strategy with consistent investment in advertising for all major luggage brands.During FY 2016 Branded bags and luggage category saw tremendous growth as company increased its focus with new launches and advertising. Brand VIP remains the first choice of Indian family travel while Aristocrat and Alfa are providing value to consumers in hypermarkets and trade channels respectively.In FY 2017 Skybags backpack advertisement `play Back to Back' featuring Varun Dhawan has become very popular. Moreover with latest brand Ambassador Hrithik Roshan on board brand VIP is all set to get a stylish makeover. In FY 2018 the company's traditionally strong categories like Soft uprights and Duffle registered a good growth. With Carlton brand for the new-age business traveler the company is presently tapping high-end market where customers are discerning and willing to pay a premium for good bags.There was a fire incident at Company's Ghaziabad warehouse on 3rd April 2019. There was loss of stocks and fixed assets. The assets damaged by the fire are adequately insured. The damaged assets are being impaired during the period of losses occurred. The insurance claim will be recognized around the time of admission of claim by the insurance company.As on 31st March 2019 the Company has 1 Indian and 4 overseas wholly owned Subsidiaries. During the year 2019 V.I.P Accessories BD Private Limited has been incorporated as wholly owned subsidiary of the Company at Bangladesh.As on 31st March 2020 the Company has 1 Indian and 4 overseas wholly owned Subsidiaries.The Board of Directors has approved the allotment of 1000 listed secured rated redeemable Non-Convertible Debentures (NCDs) of Rs.1000000/- each aggregating to Rs. 100 crore on Private Placement basis in its meeting held on July 30 2020.The Company has issued Listed Redeemable 7.45% Non- Convertible Debentures (NCDs) aggregating to Rs 100 Crore on July 30 2020 and Listed Redeemable 7.25% Non- Convertible Debentures (NCDs) aggregating to Rs 50 Crore on September 07 2020.As on March 31 2022 the Company has 1 Indian and 4 overseas wholly owned Subsidiaries. During the year 2021-22 Blow Plast Retail Limited VIP Industries Bangladesh Private Limited VIP Industries BD Manufacturing Private Limited VIP Luggage BD Private Limited and VIP Accessories BD Private Limited continued to be the wholly owned subsidiary companies of the Company.During year 2022 it opened 32 retail stores taking the count to 376. It expanded the hard luggage (HL) production capacity by 55 lacs (annual) units across India and Bangladesh. It launched new products in value (Aristocrat) and mid (Skybags) segments.During year 2022-23 the Company established additional 125 Exclusive Business Outlets (EBOs)taking the count to 500 EBO Stores. It launched 23 new products in the premium/economy segment and 19 new products in the value segment taking the count to 42 launches.