Company History - VIP Industries
YEAR EVENTS
1968 - The Company was incorporated on 27th January as private
limited
company under the name and style Aristo Plast Pvt. Ltd., and
commenced its activities by taking on job work in plastic
moulding. The Company became a deemed public limited company
under section 43-A of the Companies Act, 1956 on 15th March,
1973. The operational management of the Company changed
hands.
1971 - The Company became a wholly owned subsidiary of Blow Plast
Ltd.
1973 - The Company established complete manufacturing facilities
which
included injection moulding, electroplating, anodising, frame
bending, press shop, component manufacturing and assembly.
1979 - The Company implemented its first expansion programme at
Nasik
(Maharashtra) increasing the production capacity from 40,000
to
60,000 pieces of luggage per month.
1980 - A new tool room was commissioned for the manufacture of
sophisticated press tools, jigs, fixtures, dies and moulds.
- 300 No. of equity shares without payment in each and 450
equity
shares for cash were allotted to Blow Plast, Ltd., and its
nominees. 750 bonus equity shares issued in prop. of 1:1 in
1977-78 and 1,500 bonus equity shares issued in prop. of 1:1.
All shares were held by Blow Plast, Ltd., and its nominees.
1981 - The Company implemented a second expansion programme by
setting
up a new unit to increase the production capacity from 60,000
to
90,000 pieces of luggage per month.
- The name of the company was changed from Aristo Plast Ltd.,
to
V.I.P. Industries Ltd., with effect from 16th June.
1982 - The Company launched a new project at jalgaon (Maharashtra)
for
the manufacture of soft luggage which was sold under the name
SKYBAGS.
- The Company undertook a modernisation programme at Nasik by
replacing older machines and technology, thereby improving
product quality and productivity, conserving power and
improving
storage and material handling systems.
- Marketing of the Company's product viz., VIP moulded luggage
and
SKYBAGS soft luggage is carried out by Blow Plast Ltd., who
have a strong network of branches all over the country. In
addition, the Company directly sells to selected customers
and
wholesalers.
- 3,000 bonus equity shares issued in prop. of 1:1.
1985 - The new moulded luggage plant at Jalgaon made a significant
contribution to the total output. A 25% excise duty was
imposed
on moulded luggage. The excise duty was exempt from March.
- However, as a result of much larger volume of production and
cost
savings, the Company was able to absorb half of the burden of
exicise duty, the other half being absorbed by the dealers.
With a view to widen the consumer base, the Company started
producing relatively low priced luggage.
- The capacity of the Jalgaon plant was expanded and the Nasik
plant was being modernised. A new factory was set up at
Nagpur
in Maharastra for the manufacture of moulded luggage.
- Equity shares subdivided. 30,00,000 bonus equity shares of
Rs.10
each then issued at a prem. of Rs.2 per shares linked to
debentures out of which the following shares linked to
debentures
were reserved and allotted on a preferential basis:
- (i) 48,000 shares to business associates of the Company;
- (ii) 1,92,000 shares to shareholders of Blow Plast, Ltd;
- (iii) 1,20,000 shares to employees of the Company, holding
company and associate companies and
- (iv) 8,00,000 shares to non-resident Indians on repatriation
basis. The balance 12,40,000 shares linked to debentures
were
offered for public subscription during February, 1986.
1986 - The Company ceased to be a subsidiary of Blow Plast Ltd.
- The Company launched a new range of moulded luggage under the
brand names International Tourister and Odyssey.
- The all plastic International Tourister range of suitcases
were
aimed at the middle and lower segments of consumers, the
odyseey was to cater to the more discerning consumers.
- The Company issued 24,00,000 No. of equity shares of Rs.10
each
at a premium of Rs.2 per share linked to 9,60,000 15% secured
redeemable non-convertible debentures of Rs.100 each for cash
at
par. Out of this the following shares and debentures were
reserved and allotted on a preferential basis:
- (i) 48,000 No. of equity shares linked to 19,200 debentures
to
promoters, directors, their relative and business associates
of
the Company.
- (ii) 1,92,000 No. of equity shares linked to 76,800 debentures
to
shareholders of Blow Plast Ltd., the holding company of V.I.P
Industries Ltd.;
- (iii) 1,20,000 equity shares linked to 48,000 debentures to
the
employees of the Company, holding Company and associate
companies.
- (iv) 8,00,000 No. of equity shares linked to 3,20,000
debentures
to non-resident Indians and persons of Indian
Nationality/Origin,
residing abroad on repatriation basis. The balance 12,40,000
No.
of equity shares linked to 4,96,000 debentures were allotted
to
the public.
- These debentures are redeemable in full at a premium of Rs.5
per
debenture on the expiry of 7 years from the date of
allotment.
1987 - Despite go-slow and a lock-out at Nasik factory for over two
months, production and sales were maintained almost at the
previous year's level. However margins were under pressure
due
to prevailing competition.
1988 - The sales declined to Rs. 64.64 crores from Rs. 68.90 crores
in
the previous year due to factors like heavy excise duty,
stiff
competition and hike in the input costs.
- 60,00,000 Right equity shares issued at a premium of Rs.30
per
share to the existing shareholders in prop. of 1:1.
1994 - The Company withdrew from the Industrial Crates line and
opted
out of the luggage exports markets of Nigeria and CIS
countries.
2000 - The Company has approved the scheme of amalgamation of
Cristobal
Investments Co Ltd, and its wholly owned subsidiary
Pristine Plast Ind Ltd with
the company effective from 1st April.
2001 - The Company has launched a new range of Moderna moulded chairs
in wood finish.
- The Dilip G Piramal-headed VIP Industries has entered
into a strategic tie-ups with
the France-based luggage maker delsey.
- VIP Industries Ltd., a luggage manufacturer, has
entered into a strategic alliance with
Delsey.
- VIP, has bagged its largest order of over 55,000
briefcases for the German market.
2002
-Milind Puranik resigns as Company Secretary of VIP Industries.
2003
- Vip Industries Ltd. has informed that Mr. A G Warey has resigned as
Director of the Company w.e.f. June 6, 2003.
2004
-Vip Industries Ltd. has informed that the Company's bid for
acquisition of certain Assets of Carlton International plc U.K. which
is under liquidation, has been accepted
2005
-VIP enters soft luggage segment
2009
- Vip Industries Ltd has informed that at the meeting of the Board of
Directors of the company held on June 30, 2009, Ms. Radhika Piramal
has been appointed as an Executive Director of the Company w.e.f.
July 13, 2009.
- VIP Industries Ltd has informed that the Board of Directors of the
Company at its meeting held on June 30, 2009, Ms. Radhika Piramal has
been appointed as an Executive Director of the Company w.e.f. July 13,
2009.
2010
- Vip Industries Limited has appointed Mr.T.Premanand as an
Additional Director, being a Whole-time Director of the Company
designated as Director - Works with effect from July 27, 2010.
2011
- The Board of Directors of the Company has declared an Interim
Dividend of Rs. 3/- (Rupees Three only) per equity share of Rs. 10/-
each.
- Mr. Jogendra Sethi has been appointed as the Chief Financial
Officer (CFO) of the Company.
-Company has splits its Face value of Shares from Rs 10 to Rs 2
2012
- The Board of Directors of the Company have declared an Interim
Dividend of 60 paise (Paise Sixty Only) per equity share of Rs. 2/-
each.
- Vip Industries Ltd has informed that a wholly owned subsidiary of
the Company by the name VIP Industries Bangladesh Pvt. Ltd. has been
incorporated to set-up luggage manufacturing plant in Bangladesh.
2015
-ndia Design Mark Award (i-Mark) for VIP Spacelite 360, Carlton Stark
Strolley and Impaq PRO Spinner Laptop bag
-Good Design Award (g-Mark) for VIP Spacelite 360 degree Spinner.
2016
-VIP Industries Limited won the India Design Mark (i-Mark) award for
Carlton Hampton 3 Laptop backpack.
-Brand Caprese awarded with best brand award in Bags & Accessories
category by Shoppers Stop.
-VIP Industries Ltd was awarded the Regional Best Employer 2016-17
by World HRD Congress.
2017
-Flipkart awarded Brand Skybags as the Best Performing Brand in
Travel Category for the year 2016-17
-VIP Industries Limited was awarded the Supply Chain Champion for
the Year by Metro Cash & Carry.
-VIP Industries Limited won the India Design Mark (i-Mark) award for
VIP Tube.
-Aristocrat won 4 awards for their campaign Unpack Your Dreams
-DMA International ECHO Award Bronze- in the category of Best
Use of Artificial Intelligence for On Air with Aristocrat when
cricketers turned luggage experts
-DMA Asia CREATEFFECT Award Silver - in the category of Consumer
Products & Services for Aristocrat Unpacking a Forgotten Brand to
Life.
-Indian Digital Media Award Gold - in the category of Best
Digital Direct Response Campaign
-Kyoorius Award/ Blue Elephant Award in the category of Use of
Social Platforms.
2018
-Kyoorius Award/ Blue Elephant Award in the category of Use of
Social Platforms.
-VIP Industries Limited won the India Design Mark (i-Mark) award for
5 products Skybags AER Plus DF & DFT; VIP Centaur DFT; Carlton
Duo-Tone, Helium & Dublin.
2019
-VIP Industries Limited won the India Design Mark (i-Mark) award for
Carlton Insignia and Regalia; VIP Zenlite and Modulus; Skybags Vulcan
Weekender Backpack and Boom DFT.
-Carlton Edge was awarded with the Best TVC Award in the consumer
durables category by Exchange4Media.
-ELSC (Express Logistics & Supply Chain) Leadership Award for
Warehouse Innovation.
-VIP Industries Limited won the People Matters Total Rewards Award
2019 for Best in Driving Culture of Hyper Productivity.
-VIP Industries Limited won the People Matters L&D Award 2019 for
Best in Leadership Transformation.
-VIP Industries Limited won the Economic Times Indias Best
Companies to Work For 2019
-VIP Industries Limited won the Economic Times Indias Best
Workplaces in Manufacturing Award 2019
2020
-VIP Industries Limited won the CFBP (Council for Fair Business
Practices) award in the Category Manufacturing Enterprises Large
for the year 2019-20.
-VIP Industries Limited got recognized as a Bronze employer in the
IWEIs (India Workplace Equality Index) Top Employers for 2020.
