Bajaj Electricals renews trademark license agreement with Morphy Richards for next five years

Bajaj Electricals has renewed its trademark license with Morphy Richards for next five years.

Bajaj Electricals has used the brand name Morphy Richards since April 2002 under the License User Agreement with the UK-based company. Representational Image. Image Source: Official Website

Highlights:

1. With the renewal of license, the company would be able to leverage its brand positioning in Indian markets as well as
AARc countries to further consolidate and gain a considerable market share

2. Bajaj Electricals has used the brand name Morphy Richards since April 2002 under the License User Agreement with the UK-based company

Bajaj Electricals announced on Tuesday of extending its trademark license agreement for the next five years with the UK-based electrical appliances company Morphy Richards starting from April 25 this year.

"...The company has entered into a trademark license agreement with Morphy Richards of United Kingdom (UK) to renew the exclusive license for use of trademark "Morphy Richards" by the company in relation to the products procured from the manufacturers and/ or imported from any other country for marketing the same in India and other countries, for a period of five years from April 25, 2017, on payment of royalty," Bajaj Electricals said in a filing to the BSE.

"With the renewal of license, the company would be able to leverage its brand positioning in Indian markets as well as SAARC countries to further consolidate and gain a considerable market share," it added.

Bajaj Electricals has used the brand name Morphy Richards since April 2002 under the License User Agreement with the UK-based company.

"The company has been procuring the products from the manufacturers and/or importing from any other country from marketing the same in India under the License User Agreement since April 2002 and has established the brand well in the premium segment," Bajaj Electricals said in a statement.

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On Tuesday, the stock of Bajaj Electricals closed down 0.39% or Rs 1.00 at Rs 257.65 on the BSE.