Media
Sustainability
Media
Sustainability
Press Release
Leveraging integrated fitness solutions to enhance its healthy lifestyle offerings
Mumbai, April 13, 2018: Marico Limited, today, has announced a strategic investment in Revolutionary Fitness Private Limited by agreeing to acquire upto 22.5% equity stake, through primary and secondary infusions.
Revolutionary Fitness Private Limited owns Revofit (https://revofit.com) - an integrated fitness and holistic wellness solutions app (available on Android and iOS), which provides a 360-degree approach to a healthy lifestyle. It helps urban, health conscious, working professionals build healthy habits and enables easy access to all health needs, be it diet, fitness, nutrition or exercise.
Over the years, Marico, through its brand ‘Saffola’, has always championed a proactive and healthy lifestyle. Saffola has been expanding its product offerings from healthy edible oils to healthy foods such as oats (plain and masala), high-fibre soups and meal-replacement high protein Nutrishakes. Going forward, the brand will continue to develop a wider bouquet of healthy foods. This alliance is yet another step towards strengthening Marico’s healthy lifestyle offerings, by leveraging Revofit’s integrated platform.
Saugata Gupta, MD and CEO, Marico Limited, said, “I am delighted with the partnership with Revofit, a next generation digital wellness platform. This complements Marico’s aspiration to participate in the nutraceuticals and wellness space. This win-win alliance offers a wider choice to consumers looking to incorporate wellness, fitness and nutrition into their daily lifestyle”.
Sunjay Ghai, Co-founder and CEO, Revolutionary Fitness Private Limited, said, “Marico stands for innovation and we take great pleasure in partnering with them on our journey to make India healthier. Marico’s deep domain knowledge in marketing, distribution and product development, coupled with our strengths in digital channels and focus on niche FMCG products for millennials, will enable cross pollination of ideas to create a robust high growth business. Our team is super excited to begin this journey with Marico.”
About Marico Limited:
Marico (BSE: 531642, NSE: “MARICO”) is one of India’s leading consumer products companies, operating in the global beauty and wellness space. During 2016-17, Marico recorded a turnover of INR 59 billion (USD 886 Million) through its products sold in India and other emerging markets in Asia and Africa. Marico touches the lives of 1 out of every 3 Indians, through its portfolio of brands such as Parachute, Parachute Advansed, Saffola, Hair & Care, Nihar, Nihar Naturals, Livon, Set Wet, Mediker and Revive. The International business contributes to about 23% of the Group’s revenue, with brands like Parachute, Parachute Advansed, HairCode, Fiancée, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, Isoplus and Thuan Phat.
Marico’s focus on sustainable profitable growth is manifest through its consistent financial performance, a CAGR of 10% in Turnover and 18% in Profits over the past 5 years.
For media inquiries, feel free to contact our communications and media relations team.
media.connect@marico.com
+91 22 6778 9999
marico@mslgroup.com
+91 22 6778 9999