Safari Industries has informed exchanges that it has executed a licensing agreement with Carlton Retail for the use of the “Carlton” brand under Class 18 for certain products, including luggage, in India.The agreement allows Safari Industries (India) Ltd. to use the Carlton brand for an initial term of 20 years, which may be renewed for a further 20 years at the company’s discretion.
As part of the arrangement, Safari will pay a licence fee of ₹45 lakh or 5% of net sales per year, whichever is higher.Additionally, the company will pay a total interest-free refundable security deposit of ₹99.50 crore to Carlton Retail.
The deposit will be paid in tranches over a specified period, subject to conditions outlined in the agreement.
Shares of Safari Industries (India) Ltd. were trading 1.78% lower on Wednesday at ₹1,800. The stock has declined 18% so far in 2026.
