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The latest announcement is out from V.I.P.INDUSTRIES LTD. ( (IN:VIPIND) ).
VIP Industries Ltd. announced that Dilip Piramal and Family have agreed to sell up to 32% of their stake in the company to the Multiples Consortium, which will take control of the company. This strategic partnership aims to revitalize VIP Industries’ presence in the Indian luggage market, where it has faced challenges in recent years. The transaction, subject to regulatory approval, marks a significant shift in ownership and is expected to unlock a new phase of growth for the company.
More about V.I.P.INDUSTRIES LTD.
VIP Industries Ltd. is Asia’s largest and the world’s second largest luggage maker, headquartered in Mumbai. The company manufactures luggage and travel accessories and has a strong retail network with over 10,000 points of sale in 45 countries. Established in 1971, VIP Industries has sold over 100 million pieces of luggage globally, making it a leading manufacturer of hard and soft luggage in Asia.
Average Trading Volume: 59,569
Current Market Cap: 64.82B INR
Find detailed analytics on VIPIND stock on TipRanks’ Stock Analysis page.