VIP Industries Stake Sold: 32% of VIP suitcases, which were once a familiar sight in every household in the 80s and 90s, are being sold. Dilip Piramal, chairman of India’s largest luggage company, VIP Industries, has decided to sell his 32% stake in the company. This stake will be sold to private equity firm Multiples and other investors for Rs 1,763 crore.
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VIP Industries Stake Sold: Company Chairman’s Statement
Piramal said that his next generation is not interested in running the business, which is why he had to take this step. VIP Industries has been a leader in the suitcase and bag manufacturing business for 53 years.
VIP Industries has been the market leader for the past several years, but for the last 5 years, the company’s market share has been continuously decreasing. The company’s market value has come down to Rs 6,830 crore.
Piramal said – The next generation does not want to run the business. Dilip Piramal led VIP Industries, India’s largest brand of suitcases and bags, for 53 years. But now his three daughters—Radhika, Aparna and Priyadarshini—are not showing interest in the business.
Piramal told NDTV Profit, “We have a family business, but the next generation does not want to run it.” Moreover, the company has been losing market share for the last five years and has incurred losses in all four quarters of last year.
VIP Industries Stake Sold: To whom are the Shares Being Sold
32% stake of VIP Industries is being sold to Multiples Private Equity, Akash Bhansali and CaratLane founder Mithun Sacheti for Rs 1,763 crore.
- Share price: The share price was fixed at Rs 388, which is 15% lower than the closing price of July 11. After the stake sale, the Piramal family’s stake will come down from 51.73% to 19.73%.
- Offer: Also, Multiples has launched an open offer of Rs 1,438 crore to buy 26% more shares as per SEBI regulations.
The Company’s Market Share Shrank to 38%
VIP Industries, which owns brands such as Aristocrat, Carlton, Skybags and Capres, once had a 50% market share in India. But now its share has shrunk to 38% due to competition from companies such as Samsonite and Safari Industries.
VIP Industries Stake Sold: We will Rise and Shine Again
In 2025, the company’s revenue was Rs 2,169.66 crore, but the loss increased. Piramal said, there are management problems in the company, but its base is strong. The new management will make it shine again.
Dilip Piramal Will Step Down from the Board
Dilip Piramal will step down from the company’s board, but a family member will remain on the board. He will hold a 20% stake in the company. The Piramal family will remain shareholders in the company.
Piramal believes that VIP has a huge opportunity in the global market. The company’s products are sold in 45 countries, and India is a good place for the luggage industry. Renuka Ramnath, managing director of Multiples, said, We will further strengthen the legacy of VIP.
End of an era. VIP Industries, once family-owned, is now in new hands. 👇
— Bimlesh Gundurao | Foundership (@bimleshgundurao) July 18, 2025
Dilip Piramal and family have exited from active control after building the company for over 53 years.
India's Market Leader in the luggage Industry
They’ve sold a 32% stake for ₹6,700 Cr (~$807 million… pic.twitter.com/PKh5mZt2IW
About the Company
- VIP Industries was started in 1968.
- The company has been making suitcases used in Indian homes for decades.
- It made many popular brands like Sky Bags, Carapace.
- At one time, the valuation of the company was Rs 10,000 crore, which has now come down to Rs 68,00 crore.
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗