Marico expects 8-10% domestic volume growth in FY19

By

Isabelle Crossley

Published
Jul 18, 2018

The fast moving consumer goods (FMCG) business Marico is targeting between eight and ten percent growth this fiscal year, as it continues to invest in beauty and personal care brands, as well as e-commerce.

The business expects healthy market share gains in FY19, made possible by the creation of digital brands and e-commerce expansion.

"For FY19 and beyond, we retain the target of 8-10 per cent volume growth in India accompanied by healthy market share gains,” Marico’s CEO and Managing Director, Saugata Gupta, said in the business’ annual report.

“Accelerated innovation and our focus on digital will be strong enablers."

Marico are focusing on digital brands and e-commerce growth this fiscal year. "We are also working towards a differentiated operating model to accelerate our Horizon 2.0 initiatives. Our investments in Beardo and Revofit will augment our efforts further," said Gupta.

The product categories that Marico will expand in are, according to Gupta, “premium hair nourishment, male grooming, skin care and healthy foods” showing a strong focus on the beauty section of the market.

One of the business’ recent brand acquisitions in the personal care section of the market was the men’s grooming brand Beardo. The brand produces beard oils, waxes, soaps, and other facial hair related products.