Vaibhav Global
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| Formerly | Vaibhav Gems |
|---|---|
| Company type | Public |
| Industry | Fashion Jewelry & Lifestyle Products Manufacturer, Electronic Retailer, Wholesaler |
| Headquarters | Udaipur, Rajasthan, India |
Area served | USA & UK |
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 multi-national electronic retailer, wholesaler and manufacturer of fashion jewelry and lifestyle accessories. The company is headquartered in Jaipur, India.[1][3][4][5]
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
- ^ 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.
- ^ "Vaibhav Global". Money Control. Retrieved 20 October 2015.
- ^ a b c d Mudar, Patherya (21 June 2015). "Vaibhav Global: India's successful e-tail model". Business Standard. Retrieved 19 October 2015.
- ^ a b c Bang, Nirmal (5 February 2013). "Vaibhav Global ready to shine: Nirmal Bang". moneycontrol.com. Retrieved 19 October 2015.
- ^ a b c d "Indian company Vaibhav Global dresses up middle-class Americans". Business Standard India. 24 June 2015. Retrieved 19 October 2015.
- ^ Bhuva, Rajiv (30 July 2015). "INDIA's next 500, and why they matter". Fortune India.
- ^ "India's top 50 wealth creators". Fortune India. July 2015.
- ^ "India Gem & Jewellery Awards". www.gjepc.org. Retrieved 15 March 2016.
- ^ http://www.vaibhavglobal.com/sites/default/files/Shop%20LC%20Rebrand.pdf
- ^ "Vaibhav Global plans to hire 500 employees in FY'15". timesofindia-economictimes. Retrieved 20 October 2015.