Vaibhav Global

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Vaibhav Global Limited
FormerlyVaibhav Gems
TypePublic
IndustryFashion Jewelry & Lifestyle Products Manufacturer, Electronic Retailer, E Retailer
HeadquartersJaipur, Rajasthan, India
Area served
USA, UK & Germany
Key people
  • Sunil Agrawal (Chairman & Managing Director)
ProductsRings, Bangles, Bracelets, Earrings, Watches, Handbags, Scarves, Home décor
BrandsILLIANA, Rhapsody, J Francis, Karis, Elanza, Strada, Genoa
RevenueIncrease ₹1,986 crore (US$260 million) (FY 2019-20)
Increase ₹276 crore (US$37 million) (FY 2019-20)
Increase ₹190 crore (US$25 million) (FY 2019-20)
Subsidiaries
  • The Jewellery Channel (TJC), UK
  • Shop LC, formerly Liquidation Channel, USA
  • STS Jewels
  • STS Gems
Websitewww.vaibhavglobal.com
Footnotes / references
[1][2]

Vaibhav Global Limited (VGL), formerly known as Vaibhav Gems, is a multi-national electronic retailer and manufacturer of fashion jewelry and lifestyle accessories. It sells its products through its home shopping channels, Shop LC in the United States and TJC in the United Kingdom. The company is headquartered in Jaipur, India.[1][3][4][5]

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[6] in the US & Canada and TJC formally The Jewellery Channel 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][7]

Awards and recognition[]

  1. Vaibhav Global conferred 'Best Governed Company' At 20th edition of ICSI National Awards for Excellence in Corporate Governance [8]
  1. 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.[9]
  1. It also ranked 3rd amongst India's top 50 wealth creators list by Fortune India magazine.[10]
  1. The company was awarded the Indian Gem and Jewellery Award 2015 for silver jewelry and also for Most Socially Responsible Company.[11]

See also[]

References[]

  1. ^ a b c d "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. ^ a b Mudar, Patherya (21 June 2015). "Vaibhav Global: India's successful e-tail model". Business Standard. Retrieved 19 October 2015.
  4. ^ a b c Bang, Nirmal (5 February 2013). "Vaibhav Global ready to shine: Nirmal Bang". moneycontrol.com. Retrieved 19 October 2015.
  5. ^ a b c "Indian company Vaibhav Global dresses up middle-class Americans". Business Standard India. 24 June 2015. Retrieved 19 October 2015.
  6. ^ http://www.vaibhavglobal.com/sites/default/files/Shop%20LC%20Rebrand.pdf
  7. ^ "Vaibhav Global plans to hire 500 employees in FY'15". timesofindia-economictimes. Retrieved 20 October 2015.
  8. ^ Capital Market - Live News
  9. ^ Bhuva, Rajiv (30 July 2015). "INDIA's next 500, and why they matter". Fortune India.
  10. ^ "India's top 50 wealth creators". Fortune India. July 2015.
  11. ^ "India Gem & Jewellery Awards". www.gjepc.org. Retrieved 15 March 2016.

External links[]

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