Harsh Mariwala is the company’s chairman of the board and managing director. He is credited with ensuring that Marico’s business continues to expand at a steady and profitable rate. He is a creative and distinguished leader.
|Net Worth||290 crores USD|
|Education||Sydenham College of Commerce & Economics|
|Children||Rishabh Mariwala, Rajvi Mariwala|
|Award||Teacher’s Achievement Award in Business|
Harsh’s great-grandfather Vallabhdas Vasanji, relocated to Mumbai from Kutch in 1862. As a result, Basenji earned the nickname “Mariwala” because he traded in pepper, also known as Mari in Gujarati. In 1948, Bombay Oil Industries Limited was founded by Harsh’s father, Charandas, and his three brothers, who were producers and distributors of spices, oil, and chemicals.
Mariwala received his education at South Mumbai’s Sydenham College. He joined the family business in 1971. In 1975, he launched the business’s consumer products division, with Saffola refined oil and Parachute coconut oil serving as its two leading brands. With innovations like smaller plastic bottles, their replacement with metal tins, and their emphasis on advertising, promotion, human capital, and delivery, the two companies have established themselves as market leaders in their respective fields.
Indian businessman Harsh Mariwala founded and served as chairman of the Fortune India 500 company Marico.
Mariwala started his career in 1971 with Bombay Oil Industries, a company under his family’s ownership. He established Marico, a maker and distributor of fast-moving consumer goods (FMCG), with operations in 25 nations in Asia and Africa, in 1990.
In addition, he founded the following organisations: Ascent Foundation, a peer-learning entrepreneurial platform; Marico Innovation Foundation, which supports the development of innovations in India; Mariwala Health Initiative, which supports causes related to mental health; and Sharp Ventures, which serves as his family office. Kaya Limited operates a chain of skin care clinics throughout India and the Middle East.
Mariwala was listed by Forbes as the 55th richest Indian as of 2021, with an estimated net worth of over $2.5 billion.
Mariwala had little independence at Bombay Oil Mills since the family members shared management duties. In addition, he preferred the business-to-business venture he envisioned for the company to the business-to-consumer effort. As a result, he decided to launch Marico as a distinct business. However, given that their office was then situated in the busy market district of Masjid Bunder, Mariwala first struggled to find skilled personnel. As a result, he conducted interviews at the Royal Willingdon Sports Club and eventually moved the Marico office to a more accessible region, Bandra. Along with emphasising innovation and investing in brand promotion, Mariwala concentrated on creating a business culture that would empower people and uphold principles like trust, making it a force to be reckoned with.
By establishing a manufacturing facility in Bangladesh, Marico made its first significant foray into markets outside India in the late 1990s. The corporation established or bought other consumer brand businesses in several nations. The company has developed a portfolio of brands in male grooming, edible oils, skincare, hair care, and fabric care. Saffola, Parachute, Hair & Care, Nihar, Livon, Set Wet, Medsker, and Revive are some of its top brands.
In 1996, Harsh Mariwala brought Marico public with an IPO. Marico acquired the Nihar hair care brand from Hindustan Unilever in India in 2006 and the Set Wet, Livon, and Zatak personal care brands from Reckitt Benckiser in 2016.
In 2003, Mariwala recognized a niche in the skincare clinic industry and established Kaya Limited as a Marico subsidiary. When Kaya separated from Marico in 2013 and went public as a standalone company, it had 107 skin care clinics, 82 of which were in India, and a portfolio of 54 skincare products.
In 2014, Mariwala decided to continue as chairman while resigning as managing director.
Mariwala hired competent leadership to take his place in the organisation, and ever since, he has focused on Marico’s board management and strategic direction.
What does success look like for Harsh Mariwala?
Mariwala’s ability to strike the proper balance while collaborating with the management, the CEO, and his team made for excellent leadership. Mariwala’s drive for creation and excitement for it have made him well-known. Over the past three decades, Mariwala has converted the traditional family company into one of the top consumer goods companies in the beauty and wellness industry. Revenue for the company rose from 50 lakh rupees in 1971 to 6,300 crore rupees in 2017–18. Harsh is valued at 4.2 billion dollars. Marico’s international growth is evident in its presence in Bangladesh, Vietnam, Malaysia, and the Middle East. One in four Indians now experiences Marico’s product portfolio daily. Mariwala has approximately 46 years of professional experience and possesses traits like stability, focus, and a desire to learn that have helped Marico flourish as a brand. Under Mariwala’s direction, Kaya has grown significantly, established itself as a market leader, generated over Rs. 400 crores in sales, and now operates 125 clinics domestically and internationally.
Awards and achievement
- Mariwala and Marico Ltd. have won more than 100 accolades in the past few years.
- The 2009 “Talent Management Award” at the CNBC India Business Leader Awards,
- “Best Business Leadership” Award from NDTV Profit in the FMCG category in 2007
- “CEO with HR Orientation – Global Excellence HR Award” from the Asia Pacific HRM Congress in 2007,
- “Teacher’s Achievement Award in Business” in 2006 were all given to Mariwala.
- In 2008, Business Today named Marico Ltd. one of “India’s Most Innovative Companies.”