Marico’s product diversification march continues | The Daily Star
12:00 AM, May 21, 2020 / LAST MODIFIED: 12:09 AM, May 21, 2020

Marico’s product diversification march continues

Rolls out affordable beauty shampoo

Marico Bangladesh pursuit of product diversification in the personal grooming category continues, with the fast-moving consumer goods company now rolling out a shampoo.

Called Parachute Naturale Shampoo, it comes in three variants -- nourishing care, damage repair and anti-hair fall -- in 6ml sachets and 170ml and 340ml bottles.

The sachets are priced at Tk 2, and the bottles Tk 185 and Tk 320 respectively.

"Today's consumers in the female personal care category are more aware and beauty conscious than ever. To cater to their evolving personal care needs, we announced the launch of Parachute Naturale Shampoo," said Ashish Goupal, managing director of Marico Bangladesh, in a statement.

This latest product roll-out comes as the Mumbai-based company earnestly looks to reduce its dependency on one product -- its ever-popular hair oil, the Parachute Coconut Oil -- although it has a portfolio of 25 brands in the personal care and food categories.

Parachute Coconut Oil accounted for about 65 per cent of Marico Bangladesh's revenue in its just-concluded 2019-20 financial year, down from 69 per cent from a year earlier.

This heavy dependency is weighing heavy on Marico management's mind, which is why it has been busy rolling out one product after another, hoping they would click with customers the way the Parachute Coconut Oil has.

In February last year, it rolled out a baby product range. And in February this year, it shelled out Tk 30 crore to roll out a male grooming product line by the moniker of Studio X. The line consists of shampoo, face wash and hair gel, all made in Bangladesh.

Then last month, it launched Mediker SafeLife range of hand sanitiser and handwash.

Marico Bangladesh, whose stocks traded at Tk 1,562 on March 25, the last trading before the bourses shut for the countrywide general shutdown to flatten the curve on coronavirus, saw its profits soar 30 per cent to Tk 264 crore in the financial year that concluded in March.

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