Shop TJC has completed a strategic acquisition of key assets from a major player in the UK teleshopping industry.
AUSTIN, Texas, Sept. 27, 2023 /PRNewswire-PRWeb/ -- Vaibhav Global Limited (VGL) announced today that its UK-based sister channel to Shop LC, Shop TJC Ltd., has completed an Asset Sale Agreement to acquire assets from Ideal World Ltd., a leader in the UK teleshopping industry with more than two decades of experience.
The acquisition includes Ideal World's intellectual property rights, broadcasting rights, studio equipment, and other intangible assets. Funding for the transaction will come from internal accruals.
Sunil Agrawal, Managing Director of Vaibhav Global Limited, stated, "We are excited to welcome Ideal World into the VGL family. Their unique positioning in the teleshopping market complements our existing operations and is expected to generate significant synergies that will contribute to our market-leading growth."
This acquisition is a strategic move in expanding VGL's global footprint through its brands like Shop TJC in the UK, Shop LC in the United States, and Shop LC Germany. It aligns with the company's ambitious goal to provide one million meals per day to children in need by the year 2031. By leveraging Ideal World's strong market presence and technological assets, VGL aims to strengthen its ability to reach a broader customer base, thereby increasing revenues that will aid in fulfilling its social mission.
About Shop LC
Headquartered in Austin, Texas, Shop LC, is a wholly owned subsidiary of Vaibhav Global Ltd. (VGL), a vertically integrated company with global sourcing and manufacturing capabilities. Shop LC is a value-conscious, interactive retailer focused on the fine jewelry, beauty, fashion, home decor and lifestyle product categories. Established in 2007, Shop LC reaches approximately 73 million U.S. households via high-definition programming offered live 24 hours a day, seven days a week, 365 days a year. Additionally, every purchase provides a meal to a hungry child through the Your Purchase Feeds Program. For more information visit http://www.shoplc.com and download the interactive app on iTunes, Google Play or many other streaming devices or televisions.
SOURCE Shop LC