VIP owner Dilip Piramal had left his family business to build India’s largest luggage brand VIP Industries. It is now valued at Rs 6800 crore. Mukesh Ambani’s relative Dilip Piramal is now going to sell a stake in VIP. Who is Dilip Piramal? What do his children do?  VIP Industries Journey For decades VIPs have been named in the Indian household as luggage in India. Despite the arrival of numerous brands VIP retained its identity during the 1980s and 90s. During this time its suitcases and trolleys dominated the market. Operating under the tagline “Yesterday Today and Tomorrow” VIP Industries is now going to go through a major change. A 32% stake in the company is up for sale. Why Is VIP Being Sold? Dilip Piramal the owner of VIP Industries is set to sell his 32% stake valued at around Rs 1763 crore. This is the company he founded after separating from the Piramal family business. At 75 Piramal says his family has no interest in running the company and at this age he is unable to give full time attention to the business as per its demand. No Heir To Carry Legacy Dilip Piramal’s next generation has no desire to take charge of VIP Industries. Over the past five years the company’s market share and sales have declined partly due to this lack of active leadership. Rather than watch the company struggle Piramal wants it to be taken over by someone who can ensure its continuity. After the sale he will retain just 17% ownership in VIP. Who Are Dilip Piramal’s Family Members? Piramal’s personal life has also been in the spotlight. He has been married twice and has three daughters but none are interested in managing the business. His first wife Gita Piramal is a well-known author. They married in 1975 and have two daughters named Radhika and Aparna. Dilip and Gita divorced in 2005. Radhika identifies herself as lesbian and lives in London with her wife. She has been associated with VIP Industries since 2010 as a Managing Editor. Aparna reportedly suffers from bipolar disorder. His second wife Shalini Agarwal and Dilip have a daughter named Priyadarshini. Despite their success and privilege none of the daughters have shown interest in continuing the family business and that is the main reason behind Dilip Piramal’s decision to sell it Who Is Buying VIP? According to media reports the interested buyers include Multiples Private Equity Aakash Bhansali a well-known stock investor and Mithun Sacheti founder of CaratLane Dilip Piramal Connection With Mukesh Ambani Dilip Piramal is the elder brother of Ajay Piramal chairman of Piramal Enterprises. Ajay’s son Anand Piramal is married to Isha Ambani the only daughter of Mukesh Ambani making Dilip Piramal Mukesh Ambani’s samdhi (in-law). Dilip Piramal was established VIP Industries Ltd in 1968 focusing on the manufacturing and sales of luggage backpacks and handbags. Today VIP products are available in over 45 countries and across 8000 retail stores in India. The company has a market capitalization of Rs 6800 crore and Dilip Piramal’s personal net worth is more than Rs 4000 crore.