Parachute - Managing India's Leading Coconut Oil Brand![]() ![]() ![]() ![]() |
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Parachute is one of the largest FMCG brands in the country and it is the flagship brand of Marico. In the coming years, we are going to significantly invest in strengthening the brand by modernising and contemporarising its image and offering tangible benefits to consumers. Our aim will be to significantly gain consumers who currently use look-alikes in the belief that they are comparable in quality and benefit to Parachute. - Arvind Mediratta, Erstwhile Head, Marketing, Marico Industries Ltd.1 IntroductionMarico Industries, a well-known Indian Fast Moving Consumer Goods (FMCG) company, offered unique and ethnic Indian products. Marico was famous for its 'Parachute' and 'Saffola' brands. In a survey carried out by 'Brand Equity' of The Economic Times in early 2003, for India's 100 most trusted brands, Marico's 'Parachute' ranked 29th (among Indian brands it ranked 8th) and 'Saffola' 75th. Marico's brands had shown resilience against competition and maintained their market shares over the years. Marico had maintained a steady sales and profit growth over the years with a consistent Return On Capital Employed (ROCE) of over 30%.
Background NoteMarico's origin went back to 1862, when Kanji Morarji, set up a small trading business for spices sourced from Kerala, in Bombay. In the early 20th century, he inducted his cousin Vallabhdas Vasanji into the business. Together they exported pepper and ginger to Europe. The title of 'Mariwala' ('mari' meant pepper in Gujarati, an Indian language) was attached to Vallabhdas Vasanji, owing to his expertise in pepper trade. Parachute - Managing India's Leading Coconut Oil Brand - Next Page>>
1] In his interview with exchange4media's Nikhil Gupta, www.exchange4media.com, 2003. |
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