I'm sure Keki Dadiseth, who pioneered acquisitions, must have never forgotten this battle in which he had to lose. Marico and Parachute was the brainchild of Harsh and defeat was not acceptable and there was no question of selling out. He was ready for a battle! Marico makes a public offering of equity in Bangladesh; a first for one of its overseas subsidiaries.

And I'm sure if you remember the champi, you must remember the oil she used to do it with, mostly it was that tall blue bottle named Parachute and this way Parachute also becomes a part of our childhood memories.All simple and nice things right? But the business behind the products like Parachute is not simple. It's filled with the number of games, the competition for leadership, and tactics. How did it begin?

Marico Limited is an Indian multinational consumer goods company [6] providing consumer products and services in the areas of health, beauty and wellness. With its headquarters in Mumbai, Marico is present in over 25 countries across Asia and Africa. It owns brands in categories of hair care, skin care, edible oils, health foods, male grooming, and fabric care. [7] [8] Not only this Marico rejuvenated its sales team and gave them a slogan “Parachute Ki Kasam” setting their spirits high in the determination to compete with Nihar. And all these efforts worked! I think the biggest success of parachute is through innovations, and that happened in a category like coconut oil, where there are very limited opportunities for innovation. Where on the one hand Parachute had a 48% market share, Nihar Coconut oil had only 7%. So there it was, Marico’s Parachute came into the radar of Keki Dadiseth as he intended to acquire a company with maximum market share in the coconut hair oil market. And the war was about to break out. Game on Parachute comprised about 61% of Marico’s revenue. All eyes were on Parachute now, this product was the major target of Keki and for Harsh it was the one to be protected the most. Face-off

How did it begin?

After rebranding, Marico began an advertising campaign focusing on the importance of sacred coconut in Hindu tradition and linked all this value to Parachute coconut oil in the effort of becoming emotionally connected to people; they also worked on widening the distribution channel. Cancer from mineral oil". British Medical Journal. 4 (5681): 443–4. 1969. doi: 10.1136/bmj.4.5681.443. PMC 1630563. PMID 5354827. Marico Ltd. Shareholding Pattern: Latest Shareholding Snapshot of Marico Ltd". www.bloombergquint.com . Retrieved 7 June 2021. Kumar, Abhineet (28 May 2013). "The game changes for Marico". Business Standard India . Retrieved 17 March 2021. Bhushan, Ratna; Malviya, Sagar (25 March 2014). "Harsh Mariwala steps down as Marico managing director". The Economic Times . Retrieved 28 August 2016.

Even though highly refined oils (classified as Group 3) are not suspected to be carcinogenic, available information is not sufficient to classify them as harmless. [22] Shareholding Pattern [ edit ] Shareholding pattern [23] Shareholders (as on 31 March 2021) In the year 2006, Harsh Mariwala saw a huge potential in the deal. The weapon which was introduced to kill his empire was acquired by him in the end. Now Nihar & Parachute both began to thrive together under Marico. Harsh Mariwala is the chairman and Saugata Gupta assumed the role of the managing director in March 2014 and is currently the MD and CEO of this organisation. [9] [7] History [ edit ] to 94 – Marico goes from being an exporter to international marketer – sets up its first overseas office in Dubai. Keki Further added, “The consideration will ensure that you and your next generation will be cared for”The fight with the Hindustan lever strengthened Marico & Parachute even more in terms of structure, marketing, and brand value and enhanced its reputation as a ‘fighter’ which stood against the acquisition major that lever was. The Bottom Line Saffola is essentially blended refined edible oil. It is marketed under the names of New Saffola, Tasty and Active. All of them contain blended vegetable oils in various ratios. The main type of oils which are blended include Rice bran oil, Kardi oil or Safflower oil, Corn oil and Soya oil. Parachute Advanced entered the skin-care category with the launch of Parachute Advanced Body Lotion (PABL), another innovation by Marico. The year also marks the launch of Parachute Gold hair cream in the Middle East market targeted to women which today has great equity amongst the consumer. Marico strengthens its presence S.E. Asia through a male grooming, skin care and food portfolio acquired in Vietnam the same year.

Marico Innovation Foundation, responsible for executing the Corporate Social Responsibility of Marico was formed. In the same year Marico sets up copra collection centres to procure directly from farmers increasing their margins.This fight went on for six long years. By this time Hindustan liver was rebranding itself to Hindustan Unilever. Marico was giving tough competition to them and was getting more and more market share and Nihar was not even near to them. The brand which Lever chose to kill Parachute was becoming their liability. That was it! Harsh Mariwala’s Marico defeated the multinational Hindustan Lever. We decided to look into categories where MNCs (multi-national corporations) are not present. One category which we identified was hair oiling. Hair oiling only exists in limited parts, mainly India, neighboring countries and the Middle East. When I meet analysts and those who want to invest in our company, the first thing they ask is, “What is hair oiling?” and then they tell us that this is a dying sector – which is true. But I was very clear that this habit will not die down in India, and we decided to take a big bet on hair oiling. The overall competitive environment was less and our chances of success were much higher. That bet on hair oiling has really paid off. The hair oiling market still grows and we have done a lot of work on the benefits of hair oiling, and our findings are going to be leveraged in future. Bombay Oil Industries Limited: Sound logic behind revamp of family business". India Today . Retrieved 17 May 2018. On the other hand, Hindustan Lever had an extensive sales & distribution network with the largest outlet reach among FMCG companies. Lever was huge in terms of reach and money.