Who is Deepak Piramal? Mukesh Ambani’s relative Forced to Sell Rs 6,800 Crore Business

Dilip Piramal, the well-known Indian industrialist and founder of VIP Industries, is making headlines again—but this time, for stepping away from his legacy. At 75 years old, Piramal has decided to sell a 32% stake in VIP Industries, India’s largest luggage brand, valued at Rs 6,800 crore.

The Legacy of VIP Industries

VIP Industries was founded in 1968 by Dilip Piramal after separating from the broader Piramal family business. Over the years, VIP became a household name, especially during the 1980s and 90s, dominating India’s luggage market with its suitcases, trolleys, and travel gear.

Despite growing competition, VIP remained strong under the tagline: “Yesterday, Today, and Tomorrow.” The brand now has a global footprint in over 45 countries and 8,000 retail stores across India.

Why is VIP Being Sold?

According to reports, Piramal is selling his 32% stake worth Rs 1,763 crore because:

• He is too old to manage the company full-time.

• His next generation has no interest in continuing the business.

• The company has seen a decline in sales and market share in recent years.

• He wants someone capable to take over and revive the brand’s leadership.

After the sale, he will retain a 17% stake, but not actively manage the company.

Who Are Dilip Piramal’s Family Members?

Dilip Piramal has been married twice and has three daughters. None are interested in taking charge of the business.

• First Wife: Gita Piramal (married in 1975, divorced in 2005), a well-known author.

• Daughters with Gita:

  • Radhika Piramal – A member of the LGBTQ+ community, living in London with her wife. She has served as Managing Director at VIP Industries since 2010.

  • Aparna Piramal – Reportedly suffers from bipolar disorder and has kept a low public profile.

• Second Wife: Shalini Agarwal

  • Daughter: Priyadarshini Piramal – Has also chosen a path outside of the family business.

Who Could Buy VIP?

Reports suggest that several high-profile investors are eyeing VIP Industries, including:

• Multiples Private Equity

• Aakash Bhansali – Renowned stock market investor

• Mithun Sacheti – Founder of CaratLane

Mukesh Ambani Connection

Dilip Piramal is the elder brother of Ajay Piramal, chairman of Piramal Enterprises. Ajay’s son, Anand Piramal, is married to Isha Ambani, daughter of Mukesh Ambani. This makes Dilip Piramal Mukesh Ambani’s samdhi (in-law).

VIP’s Market Impact

• Founder: Dilip Piramal

• Founded: 1968

• Current Market Capitalization: Rs 6,800 crore

• Dilip Piramal’s Net Worth: Over Rs 4,000 crore

• Product Reach: Sold in 45+ countries

• Retail Presence: 8,000+ stores in India