Bajaj Electricals renews trademark pact with Murphy Richards; stock ends ~2% higher

23 Mar 2022 , 04:03 PM

Bajaj Electricals Limited has renewed its trademark agreement with United-Kingdom-based Morphy Richards Limited, for the usage of its trademark for a further fifteen years effective from July 1, 2022. This extension of the exclusive license will enable BEL to continue using the trademark Morphy Richards for producing, marketing, and selling the home appliances in India and other neighboring territories (Nepal, Bhutan, Bangladesh, Maldives, and Sri Lanka).

BEL is the only consumer appliances brand to offer this international brand to Indian consumers since April 2002 and has established it well in the premium home appliances segment.

With the license renewal, the company will be able to further strengthen its multi-brand offerings and position in the Indian markets and neighboring territories.

Speaking about the trademark license extension, Mr. Anuj Poddar, Executive Director, Bajaj Electricals Ltd. said, “We take great pride in our long-standing relationship with the Glen Dimplex group. Since 2002, we have offered the exclusive Morphy Richards product range to discerning Indian consumers to make their everyday lives easier and more joyful. We are proud to have made it the most successful international brand offering in its category in India. As a mark of our mutual commitment, the agreement is being extended for 15 years for the first time. This will allow us to plan and grow the Morphy Richards business with a long-term view, thereby enabling superior value creation.”

For over 85 years, Morphy Richards has been a pioneer in household appliances in Europe, with intuitively designed innovative products that add character to the consumer’s home and joy to their life.

Bajaj Electricals ended at Rs1,060.15 up by Rs21.75 or 2.09% from its previous closing of Rs1,038.40 on the BSE.