Formerly called Vaibhav Gems Headquarters India | Founded 1980 | |
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Traded as BSE: 532156NSE: VAIBHAVGBL Industry Jewelry & Lifestyle Products Manufacturer, Electronic Retailer, Wholesaler Key people Sunil Agrawal (Chairman & Managing Director) Stock price VAIBHAVGBL (NSE) ₹ 394.00 +8.50 (+2.20%)3 Apr, 3:30 PM IST - Disclaimer Brands ILLIANA, Rhapsody, J Francis, Karis, Elanza, Strada, Genoa Subsidiaries Genoa Jewellers Limited, Jewel Gem Usa Inc. Profiles | ||
Vaibhav global cnbc news
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.
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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 . It also ranked 3rd amongst India's top 50 wealth creators list by Fortune India magazine. The company was awarded the Indian Gem and Jewellery Award 2015 for silver jewelry and also for Most Socially Responsible Company.
VGL reported a gross profit of about 60% in financial year 2014-15. 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.
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History
VGL was founded as Vaibhav Enterprises in 1980. 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.
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.
It has electronic retail units: Liquidation Channel (LC) in the US & Canada and The Jewellery Channel (TJC) in UK & Ireland. 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.