(From top) A Yardley talc can, Azim Premji in Delhi

Bangalore, Nov. 5: Yardley of London, whose bodycare products were once a must-buy for any Indian returning from a trip abroad, can now well be called Yardley of India.

Wipro has acquired, for an estimated $45.5 million (Rs 209.3 crore), some of the business of the 239-year-old iconic fragrance, cosmetic and bodycare brand, as quintessential an English company as they come in spite of its motley owners, not all of them subjects of the crown.

Yardley holds three Royal Warrants, an honour bestowed on British firms that provide outstanding service, and which allows them to use the coat of arms, underneath which appears the phrase, “By appointment to…” followed by the name and title of the royal customer.

It was not clear if the products marketed in India after the new deal would continue carrying the Royal Warrant.

Established in 1770, Yardley had its first Indian connection four years ago when the brand, then owned by Procter and Gamble, was bought by Lornamead, a British personal care company.

Lornamead is owned by the Jatanias, among Britain’s wealthiest business families, who came to England from Uganda in the late sixties. The family had moved to the East African country from Gujarat in the thirties.

Under the agreement signed between the two companies, Wipro will take control of Yardley’s businesses in Asia, West Asia, Australasia and some African markets. Lornamead will retain the Yardley business in Europe and America.

“The acquisition fits our strategy since we are looking at a stronger presence in the developing nations,” Vineet Agrawal, president, Wipro Consumer Care and Lighting, said in a statement.

“Our understanding of the Indian markets will also help to expand Yardley across the region,” Agrawal said.

The group led by Premji already owns some 63 brands, including Indian ones such as Santoor and Chandrika. It also holds some 48 overseas brands, after it acquired the Singapore-based Unza Holdings, which markets “Enchanteur” and “Safi” among others.

In a statement to stock exchanges, Wipro said the transaction was expected to be completed by mid-December. The newly acquired business currently has revenues of $24 million (Rs 110 crore) per annum.

For Wipro, the business has come full circle since the IT behemoth started out as a company manufacturing vegetable oil and detergent soaps, called Western India Palm Refined Oils from which the now famous acronym was derived.

It was only in 1977, when IBM, along with Coca-Cola, was asked to leave India by the Janata government, that Wipro entered the information technology sector. Three years later, it ventured into software development and didn’t look back.

For many, the acquisition of Yardley also means a brand that has been a household name coming full circle.

In the era before liberalisation, Yardley products were a favourite among Indians travelling abroad and were items that occupied pride of place in middle-class households who received them as gifts from friends and relatives coming from foreign shores.

“Yardley has been a darling of the Indian masses,” said Harish Bijoor, a Bangalore-based marketing consultant. “It has been the gold standard for a lot of people who wanted something aromatic.”

Actress Nargis was a regular at the Bond Street outlet of Yardley in London, with the English Lavender her favourite. Filmstars Rakhee and Tanuja too loved to wear the brand, especially Lily of the Valley. Even Indira Gandhi was said to have been fond of Yardley products.

“I grew up with Yardley being something of a luxury item,” said Sharon White, a theatre artiste and Bangalore resident. “Marmite, Yardley were things you asked people to send you. Those were the little things that lit up our mundane lives.”

But she’s not sure if Yardley would be “such a big deal anymore”, especially with the kind of high-end brands easily available off the shelves now. “Half the fun was in getting someone to put it in a suitcase and bring it for you,” White said.

Yardley will now have to look for an Indian brand ambassador. For years, the company has used top international stars as the face of the brand, among the most famous being Twiggy, the English model and actress.

Wipro’s Agrawal said he expected the Yardley brand to grow faster than before, especially in India, with its large distribution network.

The Lornamead group believes the deal will allow it to focus on its core business areas. “We will continue to invest in Yardley in Europe and the Americas,” said Mike Jatania, chief executive, Lornamead.

Lornamead, which just about matches Wipro, the IT company, in age, being established in 1978, has an eye for acquiring heritage brands. In 2007, the company, with a global turnover estimated to be close to $650 million, acquired Woods of Windsor, a heritage classic fragrance brand established, like Yardley, in 1770.