Bajaj Electricals renews trademark license agreement with Morphy RichardsBAJAJELEC - 1202 Change: 65.85 (5.79 %)
News: Bajaj Electricals has renewed its trademark license agreement with UK based Morphy Richards (MR) for using the Morphy Richards trademark for the next 15 years.
Views: MR products are premium brand and BEL has been selling MR products for the last 20 years. The company has clocked MR revenue of ~| 235 crore in FY21. We believe it will continue to grow at CAGR of 12% on a favourable base. BEL is paying trademark license fees of ~1% to its sales to Morphy Richards UK. The extension of the exclusive license will enable BEL to continue using the trademark MR for producing, marketing and selling the home appliances in India and neighbouring territories (Nepal, Bhutan, Bangladesh, Maldives and Sri Lanka).