Marico's Strategic Leap: Parachute Advansed Enters Shampoo Market
Marico, known for its iconic Parachute brand, expands into the shampoo sector, aiming to capture a share of the robust Rs 10,000 crore market. CEO Ashish Goupal emphasizes the move aligns with the growing demand for natural solutions, promising significant growth and invigorated consumer interest.
Home-grown FMCG leader Marico has announced its strategic foray into the hair cleansing arena by launching Parachute Advansed Protein Shampoo. This move extends their iconic coconut hair oil line into a lucrative new category.
Entering a market dominated by multinational behemoths like Hindustan Unilever and Procter & Gamble, Marico's push aims to conquer a segment valued over Rs 10,000 crore, currently experiencing annual growth of 9 to 10 per cent. With ambitions to reach Rs 20,000 crore in revenue by FY30, this expansion reflects a significant stride towards Marico's broader growth goals.
CEO Ashish Goupal highlights that extending the Parachute brand into shampoos is a tactical response to shifting consumer preferences towards nature-based products. The initiative is seen as a pivotal element in boosting Marico's presence across the hair-care segment, with encouraging initial market response and a keen eye on long-term potential.
(With inputs from agencies.)
- READ MORE ON:
- Marico
- Parachute
- Shampoo
- FMCG
- India
- HUL
- P&G
- Coconut Hair Oil
- Nature-based Products
- Consumer Market
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