Consumer appliances brand Bajaj Electricals Ltd (BEL) on March 23 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 licence extension will enable BEL to continue using the trademark Morphy Richards for producing, marketing and selling home appliances in India and neighbouring territories such as Nepal, Bhutan, Bangladesh, Maldives and Sri Lanka, a joint statement said.
"With the licence renewal, the company will be able to further strengthen its multi-brand offerings and position in the Indian and neighbouring territories," it said. BEL has been offering products under the Morphy Richards brand to Indian consumers since April 2002 in the premium home appliances segment.
Morphy Richards is part of the Irish international electrical appliances group Glen Dimplex. BEL Executive Director Anuj Poddar 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."
"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 Bajaj Electricals," Glen Dimplex Executive Chairman Fergal Naughton said.
"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-year-old brand and its product range covers small kitchen appliances, including breakfast preparation, garment care and floor care.
The portfolio of BEL, part of business conglomerate Bajaj Group, spans consumer products such as appliances, fans and lighting. It also operates in the EPC segment (engineering, procurement and construction). Besides, it also owns the non-stick cookware company Nirlep Appliances.
