Marico - Managing 'Saffola'
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
Saffola provides us with an ideal platform to capitalize on the trend of increasing health consciousness by offering a number of new food products that are able to cater to needs in this area.
- Arvind Mediratta, Erstwhile Head-Marketing, Marico Industries Ltd.1
Marico Industries, a well-known Indian Fast Moving Consumer Goods (FMCG) company, offered unique and ethnic Indian products. Marico was famous for its 'Parachute' and 'Saffola' brands. In a survey carried out by 'Brand Equity' of The Economic Times in early 2003, for India's 100 most trusted brands, Saffola ranked 75th and Parachute ranked 29th. Marico's brands had shown resilience against competition and maintained their market shares over the years. Marico had maintained a steady sales and profit growth over the years with a consistent Return On Capital Employed (ROCE) of over 30%.
Marico's origin went back to 1862, when Kanji Morarji, set up a small trading business for spices sourced from Kerala, in Bombay. In the early 20th century, he inducted his cousin Vallabhdas Vasanji into the business. Together they exported pepper and ginger to Europe. The title of 'Mariwala' ('mari' meant pepper in Gujarati, an Indian language) was attached to Vallabhdas Vasanji, owing to his expertise in pepper trade.
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