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Marico eyes pole position in hair nourishment, male grooming

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Press Trust of India Mumbai
Last Updated : Jul 19 2018 | 7:15 PM IST

Home grown FMCG player Marico is targeting to achieve leadership position in leave-in hair nourishment and male grooming in South Asia, South East Asia, South Africa, the Middle East and North Africa.

The international business, with key geographical constituents being Bangladesh, South East Asia, the Middle East, Egypt and South Africa - contributed around 22 per cent to the group turnover in FY18.

"We believe we are well-positioned to achieve our aspirations of becoming a leading emerging market MNC," Harsh Mariwala, chairman, Marico, said in the company's annual report for FY18.

"Over the medium-term, Marico aims to attain leadership in leave-in hair nourishment and male grooming in its chosen markets in South Asia, South East Asia, Middle East and North Africa and South Africa," he added.

The international business reported a 9 per cent constant currency growth and volume growth of 1 per cent during the year, according to the report.

Marico's managing director and chief executive officer Saugata Gupta said the company will invest towards scaling up the male grooming and nourishment platforms in the international business and drive existing markets to their full potential.

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He added that Vietnam had an exceptionally muted year in FY18 due to sluggish growth in the male shampoo category and instability in their go-to market (GTM) execution.

"We are taking definitive steps to reignite growth in this category. We are also strengthening our GTM by investing in a top-notch IT backbone," he said.

Gupta further said that the Middle East and North Africa showed signs of recovery in FY18 where the company remains cautiously optimistic about the future, while in South Africa, the integration of its newly acquired ethnic hair styling brand Isoplus has progressed well.

Some of its prominent brands include Livon, Hair & Care, Set Wet, Parachute, Nihar Naturals, etc.

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First Published: Jul 19 2018 | 7:15 PM IST

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