Dilip piramal to sell 32% stake in vip industry as next generation shows no interest in business | VIP suitcase making company sold 32% stake: Chairman Dilip Piramal said- does not want to run business next generation; Market share reduced in five years

VIP Industries has been in business for 53 years of making suitcases and bags.

India’s largest luggage company VIP Industries chairman Dilip Piramal has decided to sell its 32% stake in the company. This share will be sold to private equity firm multiple and other investors for Rs 1,763 crore.

Piramal said that his next generation is not interested in running the business, due to which this step had to be taken. VIP Industries has been in business for 53 years of making suitcases and bags.

VIP Industries has been a market leader for the last 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 business

Dilip Piramal leads VIP industries for 53 years, which is the largest brand of suitcases and bags in India. But now his three daughters – Radhika, Aparna and Priyadarshini are not showing interest in business.

Piramal told the NDTV profit, “We have a family business, but the next generation does not want to run it.” In addition, the company has been losing market shares for the last five years and the company has suffered losses among the four quarters of last year.

The company’s market share was reduced to 38% in the match with companies like Safari Industries.

Decreased from 51.73% to 19.73%

VIP Industries 32% stake is being sold for multiple equity, Akash Bhansali and Kartale’s founder Mithun Sacheti for Rs 1,763 crore.

The stock was priced at Rs 388, which is 15% less than the Closing Price on July 11. The Piramal family’s stake will decrease from 51.73% to 19.73% after the stake is sold.

Also, Multiple has also launched an open offer of Rs 26% under SEBI rules and Rs 1,438 crore to buy shares.

Company’s market share reduced by 38%

VIP Industries, who owns brands such as Aristocrats, Carlton, Skybags and Capress, once kept 50% market shares in India. But now its share of companies like Samsonite and Safari Industries was reduced to 38%.

In 2025, the company’s revenue stood at Rs 2,169.66 crore, but increased. Piramal said, the company has management problems, but its base is strong. The new management will brighten it again.

VIP industries created suitcases used in Indian homes for decades.

Dilip Piramal will withdraw from the board

Dilip Piramal will withdraw from the company’s board, but a member of the family will remain on the board. They will hold 20% stake in the company. The Piramal family will remain as a shareholder in the company.

Piramal believes that VIP has a big chance 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.

VIP industries started in 1968

VIP Industries began in 1968. The company created suitcases used in Indian homes for decades. Made many popular brands such as Sky Bags, Carpress. At one time, the company’s valuation was Rs 10,000 crore, which has currently come down to 68,00 crores.

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