Bagging A Fortune: VIP Industries Whips Out 19,044% Returns
An investment of ₹1 lakh in the VIP Industries in October 2002, could have amassed an astounding ₹1.9 crores as of today. This multibagger surprises investors with 19044% returns. Here’s a quick look at the company.
🧳 Stock Name: VIP Industries Ltd.
🧳 NSE: $VIPIND
⭐ About The Company
Founded by Dilip Piramal in 1971 and headquartered in Mumbai, VIP Industries is a household name in India which produces and retails luggage, bags & accessories.
The company has a number of popular brands under it, such as:
Previously known as Aristo Plast Pvt. Ltd., the company’s initial business was plastic moulding.
🌍 Broad Networks
Hailed as Asia’s largest luggage maker, VIP Industries has a broad network with over 8000 retail outlets domestically and a partnership with 50 retailers globally. The company has one subsidiary based in India and 4 wholly-owned subsidiaries outside of India. UK-based Carlton is one such subsidiary which was acquired in 2004.
🚀 Market Giant
Thanks to its diverse product portfolio, VIP Industries has a market share of 22% in India. Its customer base includes retailers as well as wholesalers. Customers are mainly attracted to its products because of the constant innovation in the travel gear and wear market. Its strict adherence to quality standards helps grow its global market presence.
💰 Stock Value
On October 21, 2002, the shares of the company were trading at ₹3.60, while they were priced at ₹689.20 as of October 20, 2022.