Home-grown consumer appliances brand Bajaj Electricals Ltd (BEL) announced the extension of its trademark agreement with the United Kingdom-based Morphy Richards for a further 15 years with effect from July 1, 2022.
This license extension will enable BEL to continue using the trademark Morphy Richard for producing, marketing, and selling home appliances in India and neighboring territories such as Nepal, Bhutan, Bangladesh, Maldives, and Sri Lanka, a joint statement said.
"With the license renewal, the company will be able to further strengthen its multi-brand offerings and position in the Indian and neighboring territories," it said.
BEL has been offering products under the Morphy Richard brand to Indian consumers since April 2002 in the premium home appliances segment. Morphy Richard is part of the Irish international electrical appliances group Glen Dimplex.
Anuj Poddar, Executive Director, BEL said: "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."
Feral Naughton, Executive Chairman, Glen Dimplex, said, "We are delighted to have agreed on an extension of our long-standing licensing agreement for Morphy Richards in India for a significant 15-year term; which indicates our commitment to and trust in our partner Baja Electricals."
"We value Bajaj Electricals' dedication to growing the brand in India, and are excited by the opportunities presented by this fast-growing market, " Naughton added.
Morphy Richards is an over 85 years old brand and its product range covers small kitchen appliances, including breakfast preparation, garment care, and floor care. Besides, it also owns the non-stick cookware company Nirlep Appliances.
The portfolio of BEL, part of business conglomerate Baja Group, spans consumer products such as appliances, fans, and lighting. It also operates in the EPC segment (Engineering, Procurement, and Construction).