Marico goes for global push

Targets 25-30% growth in international business in FY07.

Marico Industries is looking at 25-30 per cent growth in its international business this financial year. The company aims to increase its turnover to Rs 161 crore from Rs 116 crore by the end of this year.

Milind Sarwate, chief financial officer, Marico, said, "At present, the international business focuses on Bangladesh and West Asian markets, besides other opportunities that may arise in the future."

The company had acquired two soap brands, Aromatic and Camelia, in Bangladesh last year. It has recently launched a new ad campaign for these brands there.

"As they were acquired in mid-last year the brands did not really reflect in the balance sheet. This year, we expect them to contribute 25-30 crore takas to the international business," he said.

In West Asia, the company's business has grown substantially on the strength of customised products for the market there.

"We realised that the local tastes of the market were different from our offerings. So we started customising and creating products to suit local needs. Our products there include hair cream, which has become the company's lead brand in the region, and Hamam Zait, another customised offering," he said.

Besides this, the company plans to increase the number of Kaya Skin Care Clinics in West Asia from three to about seven by the end of the year.

Marico had said earlier that it will continue to look for acquisitions in the beauty and wellness space which is its focus area.