The Parachute family is designed by corporate Indias favourite new look expert Shombit Sengupta of Shining Strategic Design of Paris. Shreekant Gupte, vice-president marketing of Marico says that the new products are an image upgradation for Parachute.
As a 47-year old Rs 250 crore brand, Parachute had over the years acquired an old fashioned image. Brands like Dabur Vatika, Keo Karpin and Tata Nihar were considered to be more contemporary. It had an image of a 50-year old sari clad woman, says Gupte. For the modern look, Parachute was relaunched two months ago as a vibrant looking product which had all the goodness of coconut oil.
The Rs 500 crore coconut oil market is growing at seven per cent per annum. Marico hopes the new extensions will extend its reach in the haircare market. Two years ago, Marico introduced Parachute Herbal but withdrew it within nine months. The television campaign for the new products by Ambience Advertising will break later this month.