Modi Enterprises is an Indian

business conglomerate A conglomerate () is a multi-industry company – i.e., a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Conglomerates ...

based in

New Delhi, India New Delhi (, , ''Naī Dillī'') is the capital of India and a part of the National Capital Territory of Delhi (NCT). New Delhi is the seat of all three branches of the government of India, hosting the Rashtrapati Bhavan, Parliament House ...

. The US $2.8 billion group, consisting of

Godfrey Phillips India Godfrey Phillips India Ltd. (GPI) is a tobacco manufacturer headquartered in India. The firm was originally established in London in 1844. GPI was one of the first UK companies to mass-produce cigarettes, apart from being one of the founding c ...

, Indofil Industries Ltd., Modicare Limited, has a diversified business portfolio including cigarettes manufacturing, education,

agricultural chemicals An agrochemical or agrichemical, a contraction of ''agricultural chemical'', is a chemical product used in industrial agriculture. Agrichemical refers to biocides (pesticides including insecticides, herbicides, fungicides and nematicides) and sy ...

, personal care, tea and beverages, entertainment, consumer products,

multi-level marketing Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial marketing strategy for the sale of products or services in which the revenue of the MLM company is derived from a non-salaried workforce selling th ...

, and gourmet restaurants.

History

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,

ModiLuft ModiLuft was a private airline based in Delhi, India. It operated on domestic routes until it shut down in 1996. It maintained high standards in flight safety, ground maintenance and on-time performance owing to support from Lufthansa AG. ModiL ...

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 Modinagar is a town and a municipal board in Ghaziabad district in the Indian state of Uttar Pradesh. It is a part of National Capital Region A capital region, also called a capital district or capital territory, is a region or district surr ...

. 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 Will may refer to: Common meanings * Will and testament, instructions for the disposition of one's property after death * Will (philosophy), or willpower * Will (sociology) * Will, volition (psychology) * Will, a modal verb - see Shall and 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. Modi at IPL Players Auction

In April 2010,

Krishan Kumar Modi Krishan Kumar Modi (27 August 1940 – 2 November 2019), also known as K. K. Modi, was an Indian businessman and the President of Modi Enterprises. Among his three children is Lalit Modi. Background Modi was born in August 1940 in Patiala, the ...

, former chairman of Modi Group, announced that his eldest son

Lalit Modi Lalit Modi (born 29 November 1963) is an Indian businessman and former cricket administrator. He was the founder, first chairman and Commissioner of the Indian Premier League (IPL), and ran the tournament for three years until 2010. He also ser ...

will succeed him as the head of Modi Group's flagship business Godfrey Phillips India (GPI). KK Modi is the father of

, the founder of the

Indian Premier League The Indian Premier League (IPL), also known as TATA IPL for sponsorship reasons, is a men's T20 franchise cricket league of India. It is annually contested by ten teams based out of seven Indian cities and three Indian states. The leagu ...

(IPL). According to Modi, his children (

Samir Modi Samir Modi (born 15 December 1969) is an Indian businessman, and the younger son of K.K. Modi and Bina Modi. He is an executive director at Modi Enterprises, which was founded by his grandfather, Gujarmal Modi, in 1933. He is also an executiv ...

and Charu Bhartia Modi) 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

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 A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

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%.

, former chairman of Modi Group died at the age of 79 on 2 November 2019.

Brands

The company's brands include Beacon Travels, Ego-Thai, Ego Italian, Godfrey Phillips, Indofil, Modicare, Colorbar, Modi Healthcare, Pan Vilas
Coearth
and 24 Seven.

References

External links

* {{Multi-level marketing Companies based in New Delhi Multi-level marketing companies Modi family Modi Enterprises Indian companies established in 1933