Vaibhav Global

Vaibhav Global Limited (VGL) (formerly known as Vaibhav Gems) is a multi-national electronic retailer, wholesaler and manufacturer of fashion jewelry and lifestyle accessories. The company is headquartered in Jaipur, India.[1][3][4][5]

Vaibhav Global Limited
FormerlyVaibhav Gems
TypePublic
IndustryFashion Jewelry & Lifestyle Products Manufacturer, Electronic Retailer, Wholesaler
HeadquartersUdaipur, Rajasthan, India
Area served
USA & UK
Key people
ProductsRings, Bangles, Bracelets, Earrings, Watches, Handbags, Scarves, Home décor
BrandsILLIANA, Rhapsody, J Francis, Karis, Elanza, Strada, Genoa
Revenue
  • ₹1,575 Crore (2018)
  • ₹1,439 Crore (2017)
  • ₹133 Crore (2018)
  • ₹72 Crore (2017)
  • ₹113 Crore (2018)
  • ₹65 Crore (2017)
Total assets
  • ₹763 Crore (2018)
  • ₹676 Crore (2017)
Subsidiaries
Websitewww.vaibhavglobal.com
Footnotes / references
[1][2]

VGL was ranked 234th in Fortune India's Next 500 list of India's largest mid-sized companies by revenue in the year 2013-14 .[6] It also ranked 3rd amongst India's top 50 wealth creators list by Fortune India magazine.[7] The company was awarded the Indian Gem and Jewellery Award 2015 for silver jewelry and also for Most Socially Responsible Company.[8]

VGL reported a gross profit of about 60% in financial year 2014-15.[3][5] Their return on employed capital was 43% while the return on equity was 40%. It had a zero net debt to equity ratio during the same period.[3]

History

VGL was founded as Vaibhav Enterprises in 1980.[1] It was later incorporated as Vaibhav Gems Limited, in 1989 at Jaipur, India. The company became Vaibhav Global Limited in 1994 and went public in 1996-97. VGL continued expanding its manufacturing and retail capabilities and in 2005-06 acquired STS Group of companies.[1][5]

During the recession of 2008-09, the purchasing power of US consumers dropped significantly and VGL had to rework its strategy. The company brought the average price of its products down to $18 - $20 from $100 per piece in 2010 thereby, successfully transitioning from store-based jewelry business to discount retail business through web and TV channels.[4]

It has electronic retail units: Shop LC formerly Liquidation Channel[9] in the US & Canada and The Jewellery Channel (TJC) in UK & Ireland.[3][4] These are wholly owned TV channels as well as e-commerce platforms. The combined reach of these two TV channels is about 123 million households.[5][10]

See also

References
  1. "Vaibhav Global: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Vaibhav Global - NDTVProfit.com". profit.ndtv.com. Retrieved 19 October 2015.
  2. "Vaibhav Global". Money Control. Retrieved 20 October 2015.
  3. Mudar, Patherya (21 June 2015). "Vaibhav Global: India's successful e-tail model". Business Standard. Retrieved 19 October 2015.
  4. Bang, Nirmal (5 February 2013). "Vaibhav Global ready to shine: Nirmal Bang". moneycontrol.com. Retrieved 19 October 2015.
  5. "Indian company Vaibhav Global dresses up middle-class Americans". Business Standard India. 24 June 2015. Retrieved 19 October 2015.
  6. Bhuva, Rajiv (30 July 2015). "INDIA's next 500, and why they matter". Fortune India.
  7. "India's top 50 wealth creators". Fortune India. July 2015.
  8. "India Gem & Jewellery Awards". www.gjepc.org. Retrieved 15 March 2016.
  9. http://www.vaibhavglobal.com/sites/default/files/Shop%20LC%20Rebrand.pdf
  10. "Vaibhav Global plans to hire 500 employees in FY'15". timesofindia-economictimes. Retrieved 20 October 2015.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.