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Marico - A u g m e n t i n g g r o w t h v i a o v e r s e a s e x p a n s i o n …
Marico, the leader in the hair oil market in India, has announced its
entry into the Vietnam market through the acquisition of an 85% stake
in International Consumer Products (ICP) Company. The value of the
deal was, however, not disclosed. ICP is one of the leading FMCG
players in the Vietnam market with a major presence in the male
grooming market there (estimated to be ~| 1000 crore). The company
also has a significant presence across the personal care, beauty
cosmetics and sauces and condiments categories in Vietnam.
ƒ ICP Corporation
ICP Corporation was founded in 2001. The company’s revenues as on
December, 2010 stood at $26.4 million. The company has been growing
at a CAGR of 23%. ICP Corporation operates in three categories, namely,
personal care, beauty cosmetics and sauces and condiments with X-men,
L’ovite and Thuan Phat being the major brands under each category,
respectively. The leading brand of the company is X-Men, a men’s
personal care product line, which has ~35% leadership share in the
shampoo category in Vietnam. The brand also offers other products as
body wash, gels and deodorants. L’ovite is a present in the premium
women’s cosmetics brand. With Marico buying an 85% stake in the
company, the remaining 15% would continue to be held by Dr Phan Quoc
Cong, the co founder, for the next three years. He would also continue to
head as the CEO.
ƒ Marico’s International presence
Currently, Marico is present in around 25 countries across the world with
the international business contributing ~23% to its revenues. In FY10, the
sales from international business were at ~|600 crore, having grown at
36% YoY. Marico has been extensively expanding its international
business in the personal care category through acquisitions. The
company lately ventured into Egypt and Malaysia by acquiring Hair Code
and Code 10, respectively, and entered the male grooming market there.
Hence, we believe ICP would strengthen Marico’s international presence
in the male grooming market.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Marico - A u g m e n t i n g g r o w t h v i a o v e r s e a s e x p a n s i o n …
Marico, the leader in the hair oil market in India, has announced its
entry into the Vietnam market through the acquisition of an 85% stake
in International Consumer Products (ICP) Company. The value of the
deal was, however, not disclosed. ICP is one of the leading FMCG
players in the Vietnam market with a major presence in the male
grooming market there (estimated to be ~| 1000 crore). The company
also has a significant presence across the personal care, beauty
cosmetics and sauces and condiments categories in Vietnam.
ƒ ICP Corporation
ICP Corporation was founded in 2001. The company’s revenues as on
December, 2010 stood at $26.4 million. The company has been growing
at a CAGR of 23%. ICP Corporation operates in three categories, namely,
personal care, beauty cosmetics and sauces and condiments with X-men,
L’ovite and Thuan Phat being the major brands under each category,
respectively. The leading brand of the company is X-Men, a men’s
personal care product line, which has ~35% leadership share in the
shampoo category in Vietnam. The brand also offers other products as
body wash, gels and deodorants. L’ovite is a present in the premium
women’s cosmetics brand. With Marico buying an 85% stake in the
company, the remaining 15% would continue to be held by Dr Phan Quoc
Cong, the co founder, for the next three years. He would also continue to
head as the CEO.
ƒ Marico’s International presence
Currently, Marico is present in around 25 countries across the world with
the international business contributing ~23% to its revenues. In FY10, the
sales from international business were at ~|600 crore, having grown at
36% YoY. Marico has been extensively expanding its international
business in the personal care category through acquisitions. The
company lately ventured into Egypt and Malaysia by acquiring Hair Code
and Code 10, respectively, and entered the male grooming market there.
Hence, we believe ICP would strengthen Marico’s international presence
in the male grooming market.
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