Modi Group
| Privately held company | |
| Industry | Diversified Business Conglomerate |
| Founded | 1933 |
| Headquarters | New Delhi, Delhi, India |
Key people | Krishan Kumar Modi, Chairman, Samir Modi, Managing Director, Charu Modi, Executive Director, Lalit Modi, Executive Director, Sarthak Behuria, Group President, Executive Assistant, Beenish Modi, R.K. Malhotra, Chief Executive & President, Indofil |
| Products | consumer products, network marketing, gourmet restaurants, education, entertainment, tea and beverages, health, fast-moving consumer goods, fashion, food and hospitality |
Number of employees | 28,000 approximately |
| Website | http://www.modi.com |
The Modi Group (consisting Godfrey Phillips India, Indofil Industries Ltd., Modicare Limited) is an Indian Business conglomerate based in New Delhi, India. It is a US $2.8 billion headed by Krishan Kumar Modi. The group has diversified business portfolio of making cigarettes, tea & beverages, entertainment, consumer products, network marketing, chemicals, tertiary education and Gourmet restaurants.
In April 2010, Krishan Kumar Modi, Chairman of Modi Group announced the succession plan for his business empire, quoting to Media about his business to be shared equally among his three children[1] which at present is run by K K Modi Family Trust, of which he is the Managing Trustee.
In June 2011, The Modi Group announced that it was planning to acquire majority control in Godfrey Phillips India from Philip Morris, the American Tobacco Manufacturer. Both group had a 36% share in the company until in 2009, Modi Group acquired an additional 10.8% stake in GPI from Philip Morris for US $27 million, taking its share to 47%. As per the Joint Venture agreement, Modi Group has the right to take its holdings up to 51% by buying further into Philip Morris' holdings to gain majority control of the company. The deal brought Philip Morris' stake down to 21%.[2]
Product Brands
- ColorBar USA
- Four Square Cigarettes
- FS1,Premium line of cigarettes
- Tea City
- Dessange
- Twenty Four Seven, Retail Store Line
- Modi Academic International Institute
History
Late Rai Bahadur Gujarmal Modi (1902–1976),founded Modi Group from the small family run business by venturing into forming various townships,laying foundation of various Industries and commissioned 1932 onwards companies such as Modi Sugar, Modi Vanaspati Mfr Co., Modi Paints, Modi Oils, Modi Electrodes, Modi Lanterns and Torch works, Tube wells/drilling, Modi Distillery, Modi Steels, Industrial Gases, Modi Spinning and Wvg. Mills Co. Ltd., Modi Yarn Mills, Modi Threads, Modi Soap, Modi Rubber and Modi Carpets etc.