Marico enters Malaysia
Acquires Code 10- a hair styling brand- from Colgate-Palmolive
Acquires Code 10- a hair styling brand- from Colgate-Palmolive
The Marico Group (Marico) today announced its entry into the Malaysian hair styling market through the acquisition of the brand Code 10 from Colgate-Palmolive Company.
The deal, for an undisclosed consideration, envisages the acquisition of the brand Code 10 and related IPR by Marico Malaysia Sdn Bhd, a wholly owned subsidiary of Marico Middle East FZE.
The Code 10 range comprises hair creams and hair gels.
Speaking on the occasion, Mr. Vijay Subramaniam, CEO, International Business, Marico, said: “Code 10 brings strong consumer equity. We believe that with investments behind the brand it can chart a new growth trajectory for itself. In addition, it provides us with a platform in the South East Asian market. We now look forward to faster organic growth in this region.”
Marico estimates the Malaysian hair styling market to be about RM 150 million in size. Code 10 is the number 3 player and enjoys a double digit market share. Hitherto Marico’s presence in Malaysia has been through its coconut oil brands Parachute and Nihar.
Mr Milind Sarwate, Chief Finance, HR & Strategy, Marico, stated: “Marico leads the market in key Hair Styling segments such as hair creams in the Middle East. We now hope to replicate this success in South East Asia, with this acquisition, our first one in this region.”
As a part of the transaction, Marico Malaysia Sdn Bhd and Colgate-Palmolive Marketing Sdn Bhd
have entered into a Transition Services Agreement whereby Colgate-Palmolive will continue to distribute the Code 10 range of products for a limited period. The sale of the Code 10 brand is consistent with Colgate-Palmolive’s strategy to focus on its fast growing oral, personal and pet care businesses.
About Marico
Marico is a leading Indian Group in Consumer Products & Services in the Global Beauty and Wellness space. Marico’s Products and Services in Hair care, Skin Care and Healthy Foods generated a Turnover of about Rs. 23.9 billion (about USD 478 Million) during 2008-09. Marico markets well-known brands such as Parachute, Saffola, Sweekar, Hair & Care, Nihar, Shanti, Mediker, Revive, Manjal, Kaya, Aromatic, Fiancée, Hair Code, Caivil and Black Chic. Marico’s brands and their extensions occupy leadership positions with significant market shares in most categories - Coconut Oil, Hair Oils, Post wash hair care, Anti-lice Treatment, Premium Refined
Edible Oils, niche Fabric Care etc. Marico is present in the Skin Care Solutions segment through Kaya Skin Clinics (100 in India and Middle East), and through its soap franchise (in India and Bangladesh).
Marico’s focus on sustainable profitable growth is manifested through its consistent financial performance – a CAGR of 24% in Turnover and 28% in Profits over the past 5 years - while setting a record of several consecutive quarters of year on year growth- 40 for Profits and 36 for Sales. The Marico scrip is listed on the Bombay Stock Exchange (BSE) (Code 531642) & on the National Stock Exchange (NSE) (Code “MARICO”).
Marico is a leading Indian Group in Consumer Products & Services in the Global Beauty and Wellness space. Marico’s Products and Services in Hair care, Skin Care and Healthy Foods generated a Turnover of about Rs. 23.9 billion (about USD 478 Million) during 2008-09. Marico markets well-known brands such as Parachute, Saffola, Sweekar, Hair & Care, Nihar, Shanti, Mediker, Revive, Manjal, Kaya, Aromatic, Fiancée, Hair Code, Caivil and Black Chic. Marico’s brands and their extensions occupy leadership positions with significant market shares in most categories - Coconut Oil, Hair Oils, Post wash hair care, Anti-lice Treatment, Premium Refined
Edible Oils, niche Fabric Care etc. Marico is present in the Skin Care Solutions segment through Kaya Skin Clinics (100 in India and Middle East), and through its soap franchise (in India and Bangladesh).
Marico’s focus on sustainable profitable growth is manifested through its consistent financial performance – a CAGR of 24% in Turnover and 28% in Profits over the past 5 years - while setting a record of several consecutive quarters of year on year growth- 40 for Profits and 36 for Sales. The Marico scrip is listed on the Bombay Stock Exchange (BSE) (Code 531642) & on the National Stock Exchange (NSE) (Code “MARICO”).
No comments:
Post a Comment