New Delhi. Suitcases and bags manufactured by VIP Industries have been the traveling companions of Indians for years. Many people will have VIP, Skybag and Aristocrat suitcases and other luggage bags. Now big news has come about the company manufacturing VIP suitcases. According to media reports, VIV Industries is now going to be sold. The news is that a global private equity firm named Advent International will now take a major stake in the company manufacturing VIP, Aristocrat suitcase and Skybag and become its owner.
According to media reports, the news of VIP Industries being sold to Advent International has been going on for the last one year and once again this news has gained momentum. It is being told that VIP Industries promoter Piramal Group holds 51.74 percent shares of the company and they want to sell it completely. According to media reports, the promoters of VIP Industries are in talks with Advent International in this regard. It is believed that if Advent International buys all the shares from the promoters of VIP Industries, then it can also take the option of buying their stake from other shareholders. By purchasing more shares in this way, Advent International’s ownership in VIP Industries will be further strengthened.
VIP Industries is India’s largest luggage manufacturer. It has been ruling the Indian market for decades and VIP has been a favorite among people due to the sturdiness of its suitcases and travel accessories. VIP Industries was founded by Dilip Piramal in the year 1971. In the year 2023, VIP Industries had earned Rs 2099 crore. Its market capital is more than Rs 6500 crore. The total assets of VIP Industries were Rs 1415 crore in 2023. VIP Industries has more than 8000 employees. Apart from India, the luggage and travel accessories manufactured by it are sold in Africa, Britain, France, Germany, Spain, Italy, Hong Kong and Arab countries. VIP Industries also acquired Britain’s Carlton Luggage in 2004.
