Meet Marico: India's FMCG Company

While news about slowing economic growth in developing countries abound, one company is fearless in attacking those exact markets. Meet Marico - a leading Indian Consumer Products and Services company in beauty and wellness and FMCG sector. Based in the heart of Mumbai, India, Marico reaches the lives of nearly 1 out of every 3 Indians and its brands stretch across over 25 countries. Striving to be a market leader, a strategy that proved well for Marico, it has created a dominating presence in both Asia and North Africa. Last year, the company had a turn over of USD $695 million. Global brands constitute to 23% of the company's revenue. The strong global player aims to solidify profits in the Middle East and North Africa (MENA) region, specifically Egypt and U.A.E, and South Africa, Bangladesh and South East Asia. Marico grew at a tremendous rate of 26% of the last fiscal year. Hair oils, a large portion of company, grew 24% from FY11 and Saffola Oil 11% from FY11. Marico has a large amount of rural consumers, so Marico is adapting its packaging, distribution, and advertising channels to take full reign of this opportunity. The vibrant Mr. Harsh Mariwala, Chairman & Managing Director of Marico Ltd, turned the once commodity based company into branded business. Now its flagship brands include Parachute Coconut Oil. Parachute has branched into its extensions, Parachute Advansed. Saffola, Kaya Skin Clinic, Nihar, Revive, and Hair & Care are also significant brands under Marico. Saffola, known for its heart healthy oil, recently launched salts, oats, and fortified rice. Marico has immense growth potential, not only because of its ubiquitous products, but also because of its marketing strategies and more importantly, Marico's continuous drive for innovation. Two things on Harsh Mariwala's mind are growth and innovation, and this resonates within the company and its brands. When asked how Marico was able to beat the economic downturn, Mariwala responded, “I think it's a continuous process wherein we demand each and every brand and business to have growth.” Similarly, Mariwala stresses the importance of innovation and his name is synonymous with it. His enthusiasm for innovation led him to establish the Marico Innovation Foundation in 2003. This passion for innovating has created revolutionary brands under the Marico belt. The company just recently acquired Paras Pharmaceuticals Ltd, a deal that might give Marico the advantage over its competitors, Godrej and Hindustani Unilever.