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May, 28 2013

Marico to Expand its Food Business

Harsh Mariwala, chairman and managing director, Marico Ltd, is now on the way to raise Marico\'s profile in categories other than just haircare and edible oil, where it’s Parachute and Saffola brands have made a mark.

Harsh Mariwala, chairman and managing director, Marico Ltd, is now on the way to raise Marico's profile in categories other than just haircare and edible oil, where it’s Parachute and Saffola brands have made a mark.

"We got into foods only recently and right now building scale is a key priority for us. The idea is to give thrust to the food business and make it grow. While food is relatively newer, it is going to be an important business for us in future," said Mariwala.

Mariwala says the company has big plans to launch a large portfolio in the food space under the 'Saffola' brand. "Over the long-term Saffola would establish itself as a leading healthy lifestyle brand that offers healthy food options for all meals," he added.

The company with revenues in excess of Rs. 4,000 crore has of late focused on the breakfast market where it competes with the likes of GlaxoSmithKline's consumer business, Kellog's, PepsiCo and others. The company also aims to get about 25% revenues of Saffola from healthy foods over the next three years.

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