Vaibhav Global Ltd Share Price

History of Vaibhav Global Ltd

Vaibhav Global Limited (VGL) (Formerly known Vaibhav Gems Limited) was incorporated on May 8, 1989 at Jaipur. Later, the name of Company was changed from 'Vaibhav Gems Limited' to 'Vaibhav Global Limited' vide Certificate of Incorporation issued by Registrar of Companies, Rajasthan, on November 29, 2012. The Company is a global digital retailer of fashion jewellery, gemstones, lifestyle products, home décor, beauty care, hair care, apparels and accessories on TV and Digital platforms. It has a multi-channel presence across wellintegrated platforms, comprising 24x7 proprietary TV homeshopping channels, OTA platforms, e-commerce websites, mobile apps, OTT platforms, social media platforms and third-party marketplaces. The supply chain is spread over 30 countries, while retail operations ...are in the US, UK and Germany. The Company started as a Gemstone manufacturer and then in 1996-97, as a forward integration, the Company came out with IPO to establishing a world-class jewelry-manufacturing unit for export of gem-studded gold jewelry. First unit was set up at Adarsh Nagar, Jaipur in 1997. In the year 1999, it set up a new 100% Export Oriented Unit at Export Promotion Industrial Area, Sitapura, Jaipur. In 2002, it installed an Italian micro-weight gold chain manufacturing plant. In order to further forward integrate, in April 2006 VGL ventured into Electronic retail in UK starting a live TV Shopping Channel and Ecommerce operation- The Jewellery Channel Ltd., in London. Seeing the success of the model, VGL opened another TV Shopping Channel and Ecommerce operation - Liquidation Channel, in Austin, Texas to address US market. Such vertical model allowed VGL to offer unparallel values to customers, thus rapidly capturing market share in both UK and USA. Currently The Jewelry Channel UK is broadcasting in approx 30Million Households in UK and Liquidation Channel in approx 55 Million HH's in US. On October 12, 2007, Nalanda India Fund Limited, one of the reputed private equity funds, invested Approx USD 25 million in the Company. VGL has received highest Export Award (Colored Gemstone Category) for the 15th time, 12th time in succession. VGL today is one of the largest exporters of colored gemstones from India, and also the one of the largest exporter of studded jewelry. CNBC, Country's most reputed business news channel, has awarded 'Emerging India Award 2006' to the company in Gem and Jewellery category. VGL has been short listed for the 3rd time in Succession for adopting good corporate governance practices, for the ICSI National Corporate Governance Award. In 2015, Company strengthened the non-jewellery offering and added new products like Home Décor, Beauty Care and Hair Care products. Onwards 2017, it strengthened TV network reach through Over-The-Air (OTA) platforms, and also augmented their digital sales network through mobile applications, Over-the-Top (OTT) platforms, Marketplaces, and the Social Media. During year 2018, pursuant to Scheme of Arrangement/ Merger approved by Hon'ble NCLT, Mumbai Bench, Sonymike's Holdings Limited, a Promoter Group Entity of Vaibhav Global Limited, holding 99,18,640 Equity Shares representing 30.43% shareholding/ voting capital of the Company, got merged with Brett Enterprises Pvt. Ltd. (formerly: Brett Plastics Pvt. Ltd.) effective from 29th May, 2018. The Shareholding of Brett Enterprises Pvt. Ltd. increased from 83,34,124 Equity Shares, representing 25.56% shareholding/ voting capital of the Company, to 1,82,52,764 Equity Shares, representing 55.99% of shareholding /voting capital of the Company and consequently, Brett Enterprises Pvt. Ltd. became the Holding Company of Vaibhav Global Limited. During the year 2020-21, Vaibhav Vistar Limited, a 100% subsidiary of the Company was incorporated on 2 December 2020. Vaibhav Lifestyle Limited, a 75% subsidiary of the Company was incorporated on 5 December 2020. During year 2021-22, Company acquired the entire capital of Shop LC GmbH from Shop TJC Limited, UK, a stepdown subsidiary of the Company and pursuant to said acquisition, the Shop LC GmbH, Germany became a direct wholly-owned subsidiary of the Company. It acquired 25% of shareholding of Vaibhav Lifestyle Limited from existing Shareholders of the Company on 31 March, 2022. It acquired 60% equity capital of the Company on 15 March, 2022 and became subsidiary of the Company. On 15 March, 2022, the Parent Company had acquired 60% stake in Encase Packaging Private Limited. The Company in 2024, acquired 100% equity stake in Mindful Souls BV, a Dutch e-commerce company, making it a wholly owned subsidiary of the Company on 26 September 2023. It acquired the assets of Ideal World Ltd., a UK-based home shopping channel in FY 2024.