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|Samir Modi (Managing Director), Ruchir Modi (Executive Director)|
|Products||Consumer products, multi-level marketing, cigarettes, food and beverages, fashion|
Number of employees
Modi Enterprises is an Indian business conglomerate based in New Delhi, India. The US $2.8 billion group, consisting of Godfrey Phillips India, Indofil Industries Ltd., Modicare Limited, has a diversified business portfolio including cigarettes manufacturing, education, agricultural chemicals, personal care, tea and beverages, entertainment, consumer products, multi-level marketing, and gourmet restaurants.
Gujarmal Modi (1902–1976), founded the Modi Group, beginning with a small family run business, then expanding from 1933 onwards with companies such as Modi Sugar, Modi Vanaspati Mfr Co., Modi Industries Ltd, Modi Luft and Modi Rubber, 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, and Modi Carpets etc.
By the time Modi's brother Kedar Nath Modi joined the company, the Modi Group was India's seventh largest conglomerate. The company had become the center of the eponymously renamed city of Modinagar. Modi died in 1976, and KN Modi succeeded him with the help of Modi's five sons and his own three sons who later joined the family business. The founder of the company did not leave a will and, although the family remained united under KN Modi's leadership, this oversight would later cause a rift that threatened to destroy the company.
In April 2010, Krishan Kumar Modi, chairman of Modi Group, announced the succession plan for his business empire, stating to the media that his business was to be shared equally among his three children, run by KK Modi Family Trust, of which he is the managing trustee. According to Modi, his children will have the obligation to appoint his successor, and only by a unanimous vote. Otherwise, the group will be sold off with the profits from the sale shared equally among them.
In June 2011, The Modi Group announced that it was planning to acquire majority control in Godfrey Phillips India from American tobacco company Philip Morris. Both groups had a 36% share in the company until in 2009, Modi Group acquired an additional 11% stake in GPI from Philip Morris, 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%.
- Modi brands on Modi website, 5 Jan 2018
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