BPL Group founder T P Gopalan Nambiar, died on Thursday, family sources said.
Nambiar, 94, was not keeping well for quite some time and passed away in the morning, they said.
"... he died at home at about 10.15 am," a family member told PTI.
Popularly known as TPG, he is the father-in-law of BJP leader and former Union Minister Rajeev Chandrasekhar.
Mourning his demise, former Chief Minister B S Yediyurappa said on 'X', "Saddened by the passing of Shri TPG Nambiar, founder of the iconic BPL brand, who has been a close acquaintance for a long time. Shri Nambiar's enormous contributions and legacy will always be remembered. My heartfelt condolences to his loved ones."