Vaibhav Global
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| Formerly | Vaibhav Gems |
|---|---|
| Company type | Public |
| Industry | Jewelry & Lifestyle Products Manufacturer, Electronic Retailer, Wholesaler |
| Headquarters | Adarsh Nagar, , |
Area served | USA, Canada, UK, Ireland |
Key people |
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| Products | Rings, Bangles, Bracelets, Earrings, Watches, Handbags, Scarves, Home décor |
| Brands | ILLIANA, Rhapsody, J Francis, Karis, Elanza, Strada, Genoa |
| Revenue |
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| Total assets |
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| Subsidiaries |
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| Website | www.vaibhavglobal.com |
| Footnotes / references [1][2] | |
'Vaibhav Global Limited (VGL) (formerly known as Vaibhav Gems) is a multinational electronic retailer, wholesaler and manufacturer of fashion jewelry and lifestyle accessories, head-quartered in Jaipur, India.[3][4][5][1] VGL was ranked 234th by revenue in Fortune India's Next 500 list of India's largest mid-sized companies for 2013-14.[6] It was ranked 3rd in India's top 50 wealth creators' list by Fortune India magazine.[7] VGL was also awarded the Indian Gem and Jewellery Award 2014 for Silver Jewellery.[8]
History
VGL was founded as Vaibhav Enterprises in 1980.[1] It was later incorporated as Vaibhav Gems Limited, in 1989 at Jaipur, India. Vaibhav Gems became Vaibhav Global Limited in 1994 and went public in 1996-97. VGL continued expanding its manufacturing and retail capabilities and in 2005-06, the company became an Indian Multi National Company through acquisition of STS Group of companies.[5][1]
During the 2008-09 recessions, 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 TV channels.[4]
VGL reported a gross profit margin of about 60% in financial year 2014-15.[3][5] The 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]
Operations
VGL purchases rough gemstones as well as finished products from India, China, Thailand and Indonesia.[3][5] It has its low cost manufacturing facilities in India and China.[3][4][5]
VGL has two electronic retail units: Liquidation Channel (LC) in the US & Canada and The Jewellery Channel (TJC) in UK and Ireland.[3][4] These are wholly-owned TV channels as well as eCommerce platforms. The combined reach of these two TV channels is about 123 million households.[5][9]
VGL is also engaged in B2B wholesale of jewelry and lifestyle products through its subsidiary STS Jewels USA and STS Gems in Hong Kong, China, Bangkok and Bali. It has been a supplier to major retailers like Wall Mart, Carrefour, QVC etc.[4]
Products
VGL manufactures and sources fine as well as fashion jewelry, fashion accessories and other lifestyle products. It offers various jewelry items like rings, bangles, bracelets, earrings, studded jewelry etc. Among accessories and lifestyle products, VGL sells watches, handbags, scarves and home décor items. VGL has many in-house brands named ILLIANA, Rhapsody, J Francis, Karis, Elanza, Strada, Genoa etc.[3][1]
See Also
External Links
References
- ^ a b c d e "Vaibhav Global: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Vaibhav Global - NDTVProfit.com". profit.ndtv.com. Retrieved 2015-10-19.
- ^ "Vaibhav Global". Money Control. Retrieved 20 October 2015.
- ^ a b c d e f g Mudar, Patherya (21 June 2015). "Vaibhav Global: India's successful e-tail model". Business Standard. Retrieved 19 October 2015.
- ^ a b c d e Bang, Nirmal (5 February 2013). "Vaibhav Global ready to shine: Nirmal Bang". moneycontrol.com. Retrieved 19 October 2015.
- ^ a b c d e f "Indian company Vaibhav Global dresses up middle-class Americans". Business Standard. Retrieved 2015-10-19.
- ^ Bhuva, Rajiv (30 July 2015). "INDIA's next 500, and why they matter". Fortune_(magazine).
- ^ "India's top 50 wealth creators". Fortune India, Special Issue. July 2015.
- ^ "India Gem & Jewellery Awards". www.gjepc.org. Retrieved 2015-10-28.
- ^ "Vaibhav Global plans to hire 500 employees in FY'15". timesofindia-economictimes. Retrieved 2015-10-20.