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Vaibhav Global
VAIBHAVGBL · Retail > Retailing · Chairman: Harsh Bahadur · MD: Sunil Agrawal · Listing date: April 6, 2004 · Employees: 3915 · Jaipur · http://www.vaibhavglobal.com

Vaibhav Global Ltd. (VGL) is headquartered in Jaipur, Rajasthan. VGL was incorporated as 'Vaibhav Gems Limited' in 1989 and renamed as 'Vaibhav Global Limited' in 2013. The Company went public in 1996-97 and has since evolved into a thriving, vertically-integrated electronic retailer of fashion jewellery and lifestyle products in the USA and United Kingdom on its TV Shopping channels - ShopLC, USA, and The Jewellery Channel (TJC), UK. The TV coverage is complimented by e-commerce websites/mobile apps www.shoplc.com and www.tjc.co.uk. VGL is listed on BSE and NSE in India. Currently, VGL reaches millions households through its TV Shopping channels - ShopLC in the US and The Jewellery Channel (TJC) in the UK. These TV shopping channels reach customers directly 24X7 on almost all major cable, satellite and DTH platforms - Dish TV, DirecTV, Comcast, Verizon Fios, Time Warner, AT&T, Sky, Virgin, Freeview, and Freesat, etc. Also, VGL’s e-commerce websites/mobile apps in the USA - www.shoplc.com, and UK - www.tjc.co.uk complement its TV coverage, diversify customer engagement, and increase customer lifetime value. VGL group also engages in traditional B2B wholesale distribution through STS Jewels that serves various retail chains in the USA and UK.

Business area of the company

The Company is an electronic retailer of fashion jewelry and lifestyle accessories. The Company owns and operates the Liquidation Channel in the United States, and Jewelry Channel in the United Kingdom. It operates through wholesale business-as a downstream manufacturing facility segment. The Company offers a range of jewelry and non-jewelry products. The Company manufactures and exports various kinds of jewelry, colored gems stones, precious and semi-precious stones. It offers fashion jewelry, including bracelets, bangles, earrings and studded jewelry. Its products are sold on its television shopping and Web platforms.

Product range of the company

The company  is manufacturing studded (both diamonds and colour stones) yellow as well as white gold jewelry items viz. Rings, Earrings, Pendants and Bracelets, etc out of divine passion with a touch of Indian tradition. It has made heavy investments in designing and new products developments.

  • Gemstones
  • Diamonds
  • Jewelry
  • Chains

Awards/recognition

  • 2007 - CNBC, the country’s most reputed business news channel, has awarded 'Emerging India Award 2006' to the company in Gem and Jewellery category.
  • 2010 - Highest export Award in Gems and Jewellery.
  • 2013 - Indian Gems & Jewellery Award Category Silver.
  • 2017 - Most Socially Responsible Company/Highest CSR for the financial year 2015-16.
  • 2017 - ‘Gold Trophy’ for Top Exporter Rajasthan Non-MSME Category.
  • 2017 - Highest Exporter in the category of ‘Silver Jewelry’  for the financial year 2015 - 16.
  • 2017 - ECGC Indian exporter's excellence awards for the Year 2015 - 16.
  • 2017 - Outstanding Export Performance for the Year 2015 - 16.
  • 2018 - Best performance in the category of 'Gold, Silver & Platinum Jewellery.
  • 2019 - Best performance in the category of 'Silver Jewellery' for the Year 2017-18.
  • 2019 - Highest Export turnover in the category of Gold/Silver/Platinum & Artificial Jewellery for the Year 2018-19
  • 2020 - Vaibhav Global's US subsidiary, Shop LC, recognized as 'Global Business Award Winner' for 2019.
  • 2020 - Received award for National Best Employer Brands 2019 from World HRD Congress.
  • 2020 - Received award for ‘Happy companies to work with’ for from world happiness congress.

Milestones

  • 1980 - Launching of Vaibhav Enterprises.
  • 1989 - Incorporation of Vaibhav Gems Limited.
  • 1994 - VGL takes over Vaibhav Enterprises.
  • 1996-97 - Public offer of Rs 709.50 lakh at a premium of Rs. 20 per share.
  • 1999-00 - Set up 100% EOU at EPIP, Sitapura.
  • 2002-03 - Issued Bonus shares in 1:1 ratio.
  • 2003-04 - Major capacity enhancement through setting up of new state of art jewellery manufacturing unit Commissioned micro weight gold chain plant – Probably the only manufacturing setup out of United States of America.
  • 2004-05 - Setting up of retail chain stores at major international tourist destinations Diamond Processing Unit in Adarsh Nagar
  • 2005-06 - International presence through Acquisition of STS Group of Companies & Setting up of more Retail Chain stores at Alaska, Caribbean Islands, Mexico, St. Kits, St. Thomas, St. Maartin Completion of $70 million GDR issue successfully Warburg, one the leading private Equity Investor of the world has acquired more than 27% Equity Stake in the company Started 24 hours online Jewelry TV Channel marketing under the brand name ‘ILIANA’
  • 2006-07 - Received highest Export Award (Coloured Gemstone Category) for the 15th time, 13th time in succession. Started a 24-hour jewellery TV channel in Germany. Shortlisted for the 3rd time in Succession for adopting good corporate governance practices, for the ICSI National Corporate Governance Award.
  • 2007-08 - Received highest Export Award (Coloured Gemstone Category) for the 16th time, 13th time in succession. Nalanda India Fund limited, one of the very reputed private equity fund, has invested USD 35 million in the company.
  • 2009-10 - VGL Closed businesses where management did not have visibility of cash generation. Hence, exited German TV retail market; Caribbean/ Alaska B&M Retail markets.
  • 2010-11 - Received the Highest export Award in the category of Cut & Polished Colored Stone Gems and Jewellery from the Gems and Jewellery Export Promotion Council (GJEPC).
  • 2010-11 - 2010 saw further consolidation and Transformation to B2C model: Radically changed product mix bringing in entirely new, lower price point product ranges to customers. New product mix lowered average price point to USD 41/piece from USD 132 in FY08.
  • 2010-11 - Launched many new inexpensive product lines – good customer response. Capacity expansion plan at Jaipur facilities to cater to rising demand from US/ UK B2C retailing.
  • 2011-12 - Received the Rajasthan State award on the account of Export Excellence in the year 2008-09 from the Government of Rajasthan.
  • 2012-13 - Vaibhav Gems was renamed to Vaibhav Global Ltd.
  • 2012-13 - VGL Launched Lifestyle products (scarves, bags, watches, mobile covers etc).
  • 2012-13 - Received the ‘India Gem & Jewellery Awards 2013’ in the category of ‘Silver Jewellery’ from the Gems and Jewellery Export Promotion Council.
  • 2013-14 - The Company has exited from Corporate Debt Restructuring System on 20th June, 2013 by paying recompense amount on 31st March, 2013.
  • 2013-14 - Facility was established in Bandra-Kurla Complex for undertaking Mumbai business operations adding to Andheri SEEPZ office.
  • 2013-14 - Redemption of preference shares amounting to ?440 million.
  • 2013-14 - Credit rating for the long term bank facilities have been upgraded by one notch from CARE BB  to CARE BB+ (BB Plus) and for the short term bank facilities from CARE A4 (A Four) to CARE A4+ (A Four Plus).
  • 2014-15 - Credit Rating for the short term bank facilities have been upgraded by one notch from CARE A3+ (A Three Plus) to CARE A2 (A Two) which denotes adequate degree of safety. As the entire long term debts have been repaid, hence, the rating for the same has been withdrawn.
  • 2014-15 - Received the ‘India Gem & Jewellery Awards 2014’ in the category of ‘Silver Jewellery’ continuously for the second time by The Gem & Jewellery Export Promotion Council, sponsored by the Ministry of Commerce, Government of India. The award was given by the Honorable Chief Minister of Maharashtra on 29th January, 2015.
  • 2014-15 - Acquired 64,000 Square Feet land in SEZ II developed by RIICO in July 2014 and obtained  LOP (Letter of Permission) to establish a manufacturing unit in SEZ phase –II.
  • 2014-15 - Rs 2.40 per Equity Share has been paid as an Interim Dividend after 7 years.
  • 2014-15 - Completion of open offer; promoter group along with management acquired 28% stake.
  • 2014-15 - Expanded integrated US operations in Texas to over 65K sq ft. and also moved UK operations to a new 30K sq ft facility in London.
  • 2014-15 - Strengthened board with 4 more Directors.
  • 2014-15 - Rs 1.6 billion FCF used to repay debt and redeem preference shares.
  • 2014-15 - Launch of ‘ TJC Gold’ channel for dealing in high-end items.
  • 2015-16 - Recognized as the 3rd  highest Wealth Creator Company on the basis of 3 year CAGR of Market Capitalization, 4th  highest Wealth Creator Company on the basis of 5 year CAGR and 234th  on the basis of Revenue by Fortune India (The next 500). One of its Directors Mr. Rahimullah, received the award on Behalf of the Company on the 17th  of August 2015, in the More... Indian Capital, New Delhi from  Shri  Piyush Goyal , Hon’ble Minister of State with Independent Charge for Power, Coal and New & Renewable Energy in the Government of India.
  • 2015-16 - New categories of Product Line ‘Lifestyle’ will include products of Home Décor, Beauty and Haircare added to the current product mix of Jewelry, Hand Bags and Scarves.
  • 2015-16 - New channel ‘TJC Choice’ was launched which gives dual listing on Sky as well as Freesat in UK.
  • 2015-16 - Vaibhav Global’s US subsidiary launches new mobile website, set to improve customer experience.
  • 2016-17 - ‘Liquidation Channel re-branded to Shop LC in the US’
  • 2016-17 - FY15 & FY16 saw massive infrastructural overhaul and upgradation driven mostly by market demand and competitive intensity.
  • 2016-17 - Investment went into shifting from proprietary website platform to SAP-Hybris platform for US website and Demandware for UK website.
  • 2016-17 - EMI through ‘Budget Pay’ launched first on Shop LC TV channel followed by roll-out on US website. It has now been expanded to its retail channels across both USA and UK.
  • 2016-17 - Operations commenced at 1,00,000 sq ft. LEED certified ‘Gold Level’ building in SEZ-II Jaipur. With this, VGL’s production capability has doubled.
  • 2017-18 - Vaibhav Global’s US Subsidiary - Shop LC Recognized as Commitment Level Recipient by the Quality Texas Foundation.
  • 2017-18 - Vaibhav Global climbs to 162nd rank in Fortune India’s Next 500 list.
  • 2019-20 - Vaibhav Global has incorporated subsidiary company namely ‘Vaibhav lifestyle’ on December 5, 2020. The subsidiary is incorporated with the object of manufacturing and export of Textile/ Garments and related articles. 
  • 2019-20 - Vaibhav Global has successfully commissioned a 1MW Solar PV Power Generation Project under Captive use in Bikaner, Rajasthan.