Bajaj Electricals said today morning that it has extended its trademark agreement with the UK-based Morphy Richards Limited (part of the Irish headquartered electrical appliances group Glen Dimplex), for usage of the Morphy Richards trademark for a further 15 years with effect from July 1, 2022.
This will enable the company 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).
The company has been exclusively offering 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 and neighbouring territories.
The market seems to have given this renewal a thumbs up as the stock opened 2% in the green at Rs.1057 and went up to Rs.1077 on the back of robust volumes.