Bajaj Electricals Ltd (BEL), consumer appliances brand, has extended its trademark agreement with United Kingdom-based Morphy Richards Limited (part of the Irish headquartered electrical appliances group Glen Dimplex), for usage of the Morphy Richards trademark for a further fifteen years with effect from July 1, 2022.
The 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 neighbouring territories (Nepal, Bhutan, Bangladesh, Maldives and Sri Lanka), it said in a press statement.
With the license renewal, the company will be able to further strengthen its multi-brand offerings and position in the Indian and neighbouring territories.
Through this extended partnership, the Indian consumer will continue to enjoy a two-fold benefit of international quality products and trusted service.
Speaking about the trademark license extension, Anuj Poddar, Executive Director, Bajaj Electricals Ltd. 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."
Fergal 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. We value Bajaj Electricals' dedication to growing the brand in India and are excited by the opportunities presented by this fast-growing market. We look forward to working with Bajaj Electricals over the years to come."
