VIP Industries, India’s leading luggage manufacturer, has announced key leadership appointments as part of its new phase of governance and strategy under private equity major Multiples Group. Atul Jain has been appointed as Managing Director for a five-year term, while Renuka Ramnath, founder of Multiples, takes on the role of Chairperson and Additional Director.
Atul Jain succeeds Neetu Kashiramka, Vice-Chairperson and Executive Director, who will continue with VIP Industries until October 31, 2025 to ensure a smooth transition. An alumnus of IIT-Delhi and IIM-Calcutta, Jain brings extensive leadership experience across consumer durables, FMCG, telecom, and education sectors. He has previously held senior roles at Samsung Electronics Global Headquarters, Aptech Ltd., Coca-Cola, Godfrey Phillips India, and Bharti Airtel, and spearheaded AI-led digitisation and business transformation for Samsung’s ₹15,000-crore consumer durables business.
The appointments follow the completion of a Share Purchase Agreement (SPA) and Shareholders’ Agreement (SHA) with Multiples Private Equity Fund IV and Multiples Private Equity Gift Fund IV, giving the investor group the right to nominate a majority of the company’s board.
Other notable appointments include:
Sridhar Sankararaman, Senior Partner at Multiples – Additional Director
Shalini D. Piramal – Additional Director
Rajendra Agarwal, prominent entrepreneur – Additional Independent Director
The leadership transition also marks the conclusion of an era for the founding Piramal family. Dilip Piramal, former Chairman and Non-Executive Non-Independent Director, has been conferred the honorary title of Chairman Emeritus for life. Other departures include Ashish Saha, Executive Director (now Senior Vice President – Manufacturing & New Projects), and veteran investor Ramesh Damani, who resigned as Non-Executive Independent Director.
With these strategic appointments, VIP Industries positions itself for accelerated growth, stronger governance, and continued innovation in the luggage and travel accessories market, while leveraging the expertise of Multiples Group’s leadership.
