Desk Report: Home-grown FMCG major Marico Ltd plans to bolster its non-coconut oil portfolio in neighboring Bangladesh. Over the next two-three years, nearly a third of its turnover there will be non-coconut oil-based products, reports Daily Asian Age.
The portfolio accounts for 26 per cent of the company’s business in Bangladesh, and includes male-grooming products like Set Wet hair gels and deodorants, ‘Parachute Advansed’ men hair cream, hair colour offerings, ‘Mediker’ anti-lice shampoo, ‘Parachute Advansed’ skin care products and ‘Saffola’ premium edible oils. ‘ Parachute’ coconut oil continues to be the flagship brand. “We are leveraging the strong distribution network in Bangladesh and learning from the India market to quickly scale up new product introductions there,” said Vivek Karve, Chief Financial Officer of Marico, reports BusinessLine.
Marico operates through its subsidiary, Marico Bangladesh Limited, that contributes 45 per cent of the company’s international business. For Q1 of this fiscal, Marico saw its Bangladesh topline grow 9 per cent year-on-year, against 7 per cent for its overall international business.
Over the last few years, it has started pushing value-added hair oils like perfumed coconut oil, hair-fall control oil, amla oil and cooling oil and; deos and male-grooming offering.
Nayeemul Islam khan
1327 Tejgaon Industrial Area (3rd Floor), Dhaka-1208