Amidst this #marketcrash let me interest you in some interesting #Trivia , about Marico, the company which owns your everyday brands like Parachute, Saffola and many more.
I am sure you must remember the parachute bottles from your childhood.
I am sure you must remember the parachute bottles from your childhood.
Open office spaces, a concept quite common now in this age, was first adapted in India by Marico in 1990 when it wasn't picked up even by big MNCs
They first incorporated a truly open culture in India
Talk about Indian companies not leading the change.
They first incorporated a truly open culture in India
Talk about Indian companies not leading the change.
In late 1990s, Marico was the market leader in hair oil segment(still is), and HUL was eyeing to take this market share away & relaunched Nihar with an advertising campaign so big that their ad budget for ONE quarter ONLY for coconut oil was more than Marico's total annual budget
Realising the threat to it's position Marico went all out against HUL, with Mariconians dressing up as soldiers for the business conferences on this issue.
With the project being named 'Operation Parachute ki kasam'
With the project being named 'Operation Parachute ki kasam'
Before this happened, the then chairman of HUL had warned Marico's MD to sell the company to HUL or face dire consequences
Even the capital markets believed Marcio won't be able to withstand the might of HUL and was priced at 7 times its earnings instead of 13x just 2 years ago
Even the capital markets believed Marcio won't be able to withstand the might of HUL and was priced at 7 times its earnings instead of 13x just 2 years ago
But with insane focus and great efforts from everybody Marico achieved the unimaginable, kept their market share intact and the fight ended up with Marico acquiring the aggressor brand Nihar.
Source: The Unusual Billionaires by Saurabh Mukherjea of @MarcellusInvest
