Marico's International Business Group
reaches out to more than 20 countries in the Middle
East, Asian sub-continent, Australia.
Evolution:
The International Business Group was formed in early 90's
to cater mainly to the demand of
Indians settled abroad. The Business was then small and
it has over the years assumed increasing proportions with
a phenomenal topline growth rate of more than 30%. Initially
Marico exported only Parachute Coconut Oil. Now it caters
to varying needs of customers in different countries with
a host
of varied offerings.
Customising for local needs:
To cater to customers
who belong to diverse cultures and consumer habits the
International Business Group has been customizing its
products. For example, it offers perfumed oils to consumers
in Bangladesh and Hair Creams and Hair Oils (with lower
coconut oil content) to Arabs in the Gulf.
Market shares of Marico's brands overseas have been
rising. Parachute Coconut Oil is the market leader
in Bangladesh with almost half the market share while
other hair oils and hair care products have been consolidating
their share of the market. Hair Cream in Gulf is increasingly
growing into a big brand.
IBG over the years
- IBG Turnover in INR Million IBG contribution up from 10% to
16% of total turnover.
