Channel I Am has previously introduced the success stories of many entrepreneurs who proved that higher education is not a criterion for starting or succeeding in a business. This is one such interesting success story.
There is an entrepreneur in India who is happy that he did not get an MBA. He is Harsh Mariwala , the Founder and Chairperson of Marico Limited. There are not many people who do not know about Saffola Cooking Oil, Nihar Natural Hair Products, Parachute Coconut Oil and Livon Hair Serum. Marico is the manufacturer of all of them. Harsh Mariwala is said to have been an average student during his school days. Marico Chairperson says experience has taught him everything in life instead of an MBA degree.
In 1971, at the age of 20, Mariwala became part of the Bombay Oil Industries, his family business. The company had a chemical business, a spice extract business and a cooking oil business. He realized that if the edible oil business could be transformed into a branded business, it would be more sustainable and profitable. That’s how Mariwala started his entrepreneurial journey by combining distribution, network expansion and brand building.
Harsh was 39 when he started Marico in the early ’90s, convincing his parents that the consumer product business needed a special culture and identity. Marico was founded on April 2, 1990. During 1992-94s , the company established its first foreign office in Dubai. In 1996, the company was listed on the Indian Stock Exchange. In 2015, Marico’s market capitalization exceeded Rs 25,000 crore. The company is now one of the leading FMCGs in India. Known for Saffola cooking oil and Parachute hair oil, Morico sells products in 25 countries. Mariwala described Hindustan Unilever’s offer to buy Parachute, the company’s leading hair oil brand, as the most difficult moment in the business.
Safola FITTIFY, a range of healthy soups and shakes, also comes under the company’s label. The company also introduced immunosuppressive products under Saffola ImmuniVeda. According to Harsh Mariwala, launching Marico was the most important decision of his life. Having led Morico for more than 30 years, Morico today has a market value of over Rs 68,000 crore.
