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Retail, wholesale and manufacturing company From Wikipedia, the free encyclopedia
Vaibhav Global Limited (VGL), formerly known as Vaibhav Gems, is a multinational electronic retailer and manufacturer of fashion jewelry and lifestyle accessories. It sells its products through its home shopping channels, Shop LC in the United States and TJC in the United Kingdom. The company is headquartered in Jaipur, India.[1][3][4][5]
| |
| Formerly | Vaibhav Gems |
|---|---|
| Company type | Public |
| Industry | Fashion, jewelry and lifestyle product manufacturing, electronic retail, e-retail |
| Headquarters | Jaipur, Rajasthan, India |
Area served | USA, UK & Germany |
Key people |
|
| Products | Rings, Bangles, Bracelets, Earrings, Watches, Handbags, Scarves, Home décor |
| Brands | ILLIANA, Rhapsody, J Francis, Karis, Elanza, Strada, Genoa |
| Revenue |  ₹1,986 crore (US$240 million) (FY 2019-20) |
| ₹276 crore (US$33 million) (FY 2019-20) | |
| ₹190 crore (US$23 million) (FY 2019-20) | |
| Subsidiaries |
|
| Website | www.vaibhavglobal.com |
| Footnotes / references [1][2] | |
VGL was founded as Vaibhav Enterprises in 1980.[1] It was later incorporated as Vaibhav Gems Limited in 1989 in 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 it acquired the STS Group of companies.[1][5]
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.[4]
It has electronic retail units: Shop LC formerly Liquidation Channel[6] in the US & Canada and TJC formally The Jewellery Channel in UK & Ireland.[3][4] 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.[5][7]
In September 2023, it was announced that VGL had acquired the assets of Ideal World Ltd., a Peterborough, UK-based home shopping channel that went into administration in July 2023.[8][9]
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