Marico to double investment & resources to expand health food portfolio

Marico, a well-known FMCG (fast-moving consumer goods) conglomerate, is reportedly all set to two-fold its investments and resources in the health food portfolio.

Cashing in on the expanding market for healthy foods in India, the company is looking forward to spreading its roots across various cities with a go-to-food market strategy and direct increase in distribution in shopping centres that are focused on food.

Reportedly, Marico will also hire major manpower for selling its products exclusively. Currently, the firm has salespersons who interact with distribution channels for marketing all its products across different categories.

However, as per the latest plan, the team of salespeople will only be responsible for the sales of the company’s food products.

According to credible reports, Marico’s aim is to two-fold the present revenue of the healthy food portfolio from USD 58 Mn in FY1 2022 to approximately USD 109 Mn to USD 129 Mn by the end of FY2024.

Sanjay Mishra, Chief Executive Officer (New Business) and Chief Operating Officer (India Business), Marico stated that more stores are being developed that completely focus on the sale of food products.

Sanjay cited that the firm is targeting them along with other strategies for more involvement with its target consumers for their food offerings. 

These were further referred to as destination stores, emphasizing their wide deployment of data science technology to pick out the set of outlets across millions of stores that the firm serves and have a focused approach in selling through them.

Notably, Marico has ambitions to spread across nearly 50 cities with the go-to-food market strategy with an emphasis on creating special outlets for food. It also has plans to double its direct distribution in the food outlets in the upcoming two years.

Source credits: - https://www.financialexpress.com/industry/marico-plans-to-strengthen-focus-on-health-food-portfolio/2549383/