Marico Ltd eyes larger market share in value-added hair oils segment

Fast-moving consumer goods major Marico Ltd is eyeing a larger market share of value-added hair oils (VAHO) market over the next three years.

The company which currently enjoys around 25 percent share in the segment plans to achieve its target by launching new products and ramping up of its distribution network across the country.

Marico had witnessed a slowdown in the segment due to high inflation but is confident of recovery as it plans to strengthen its omnichannel presence to ramp up sales.

“Growth in VAHO segment did struggle a bit in the middle due to inflation but growth recovery has begun. In next 2-3 years, our aspiration will be to gain share and to be aggressive on that,” Somasree Bose Awasthi, chief marketing officer at Marico was quoted as saying by Businessline.

“Value-added hair oil segment is well penetrated across the rural and urban markets with each of these contributing equally towards sales. Rural growth had been tempered due to inflation but with expectation of inflation inching down and monsoons picking up we expect rural markets to pick up,” she added.

Mumbai-based Marico Ltd is one of India’s leading consumer products companies with a strong presence in the beauty and personal care segment.