Vaibhav Global Ltd (VGL) Company Overview
Listed in 1996-97 on Indian stock exchanges, Vaibhav Global Ltd (VGL) is an end-to-end electronic deep discount retailer of fashion jewelry, gemstones, and lifestyle products, operating in the US, UK, Germany, and Canada.
Shopping Experience
Today's customers seek convenience, and VGL meets this demand through its proprietary 24/7 TV shopping channels (Shop LC in the US and Germany, and Shop TJC in the UK), as well as through various digital mediums including websites, mobile apps, OTT platforms, social media, and third-party marketplaces. VGL reaches almost 124 million households across the US, UK, and Germany. As digitization progresses and online retail continues to grow, VGL's portfolio and omni-channel strategy will evolve accordingly.
Financials And Workforce
VGL reported a group turnover of approximately Rs. 3,041 Crore (FY 2023-2024) and employs over 3800 people globally. The company’s head office and main manufacturing facility are in Jaipur, India, employing around 3000 people, including contract workers.
Acquisitions
- Mindful Souls B.V.: In FY23-24, VGL acquired Mindful Souls B.V., a Netherlands-based e-commerce company specializing in subscription-based online sales of fashion jewelry, gemstones, and lifestyle products. This acquisition is expected to leverage VGL's sourcing and manufacturing strengths while enhancing digital business capabilities.
- Ideal World: VGL, through its subsidiary Shop TJC Ltd (UK), acquired the assets of Ideal World, a well-known teleshopping and digital retail brand in the UK. This acquisition includes IP rights, broadcasting rights, studio equipment, and other intangible assets.
Environmental And Social Responsibility
VGL is committed to sustainable business practices and renewable energy initiatives. The company's SEZ unit in India received the ‘Excellence Award’ for ‘IGBC Performance Challenge 2021 for Green Built Environment,’ reflecting its dedication to environmental sustainability. VGL's ‘Your Purchase Feeds...’ initiative has provided 87 million meals to school children in India, the US, and the UK. The company encourages employees to donate at least two hours each month to charitable causes, tracked through its performance system. VGL is also a Great Place to Work (GPTW) certified organization.
Shop LC Overview
Shop LC, a VGL subsidiary, was established in Austin, TX in 2007 and now broadcasts live to 75 million homes in the US. The growing e-commerce presence is supported by the website Shop LC. Shop LC ships approximately 25,000 products daily to US customers and employs around 550 people in various operational roles. The US is VGL’s largest market, contributing 68% to consolidated revenue.
TJC Overview
TJC, another VGL subsidiary, was established in London, UK in 2006 and broadcasts live to 25 million homes in the UK. The company’s e-commerce presence is supported by the website TJC. TJC ships approximately 12,000 products daily to UK customers and employs around 220 people in London, with extended teams in India.
Shop LC Germany Overview
Launched in 2021 from Dusseldorf, Germany, Shop LC Germany TV & e-commerce is a new market with significant growth potential. The business currently reaches 27 million households and is expanding. The e-commerce site can be accessed at Shop LC Germany.
Our Purpose
Delivering joy.
Our Vision
Be the Value Leader in Electronic Retailing of Jewelry and Lifestyle Products.
Our Mission
To deliver one million meals per day to children in need by FY40 through our one-for-one meal program: your purchase feeds...
Our Core Values
- Teamwork
- Honesty
- Commitment
- Passion
- Positive Attitude
As a Product Development Specialist, you will be key in shaping and executing the product vision and go-to-market strategy. You will be leading the end-to-end development process of new products and overseeing the refreshment of existing ones, ensuring alignment with business goals and market trends, along with delivering value to our customers.
In This Role, Your Responsibilities Will Include
- Facilitate the product strategy in line with business objectives and collected feedback.
- Develop new product offerings and validate their selling potential to improve lead generation and funnel conversions.
- Oversee the design, prototyping and launch phases based on approved specifications.
- Collaborate with Inventory teams and warehouses to optimise product quality, cost-effectiveness, and manufacturability.
- Present concepts with story points to the business core team for final approval of items.
- Conduct research on market trends, customer feedback (community/surveys/organic -paid channels/focus groups) and competitor products.
Product Development Support
- Coordinate with designers to prepare packaging designs matching our brand guideline.
- Collaborate with content creators to develop product names, taglines, and storytelling elements for packaging design and informational leaflets.
- Provide price references to the Supply Chain team and negotiate costs based on research.
- Share details with Supply Chain for sample development and ensure timely development of samples within the set deadlines.
- Work closely with suppliers to ensure samples meet design and quality standards.
- Provide the marketing team with key details, including delivery timeline, USPs to assist in creating a product launch plan
- Coordinate the delivery of samples to creators for developing content tailored to landing pages and paid advertising channels.
- Keep track of all data in report format for stakeholders to share in weekly meetings.
- Suggest upselling strategies by identifying complementary items
Must-haves
- Crystals Knowledge is required.
- Documented experience in product development, inventory or procurement areas.
- Successful track record of implementing new products to the commercial offer, preferably in lifestyle space (beauty, jewellery, crystals, etc.)
- Good understanding of online retail and factors driving the interest of shop visitors.
- Familiarity with emerging market trends (especially in the US, Australia or Europe), with a keen understanding of customer preferences and evolving habits in shopping.
- Efficient communication skills for smooth collaboration across teams.
- Demonstrated ability to work in a fast-paced, goal-oriented environment.
What We Will Appreciate
- Experience in an e-Commerce environment preferably for 5 years in a business combining a subscription model and single items.
- Ability to speak the language of digital marketing professionals, to harness the synergy effect for boosting product sales.
