Marico to launch edible vegetable oil brand
Wednesday, 21 April 2010
FE Report
Marico, a beauty products firm of India, will start marketing Saffola Gold, an edible vegetable oil brand, in Bangladesh from Friday, said an official Tuesday.
The new product to be available in the local market is a high-performing brand with technological enhancements that improves health.
Marico Bangladesh Limited (MBL), a subsidiary of the Mumbai-based group, introduced the product in India around 20 years ago.
"Now, we are formally going to launch the brand here from Friday," said a Marico official.
He said Saffola Gold is a blend of 80 per cent rice bran oil and 20 per cent safflower oil, which helps reduce cholesterol.
Having a leadership position in the fast moving consumer goods (FMCG), its well-known products including coconut oil, hair care and skin care reach out to more than 450,000 outlets in Bangladesh.
It is the first Indian company listed with Dhaka Stock Exchange and Chittagong Stock Exchange since mid-2009. Its shares jumped 8.70 per cent to Tk 430 after the news hit the market on the day.
Marico, a beauty products firm of India, will start marketing Saffola Gold, an edible vegetable oil brand, in Bangladesh from Friday, said an official Tuesday.
The new product to be available in the local market is a high-performing brand with technological enhancements that improves health.
Marico Bangladesh Limited (MBL), a subsidiary of the Mumbai-based group, introduced the product in India around 20 years ago.
"Now, we are formally going to launch the brand here from Friday," said a Marico official.
He said Saffola Gold is a blend of 80 per cent rice bran oil and 20 per cent safflower oil, which helps reduce cholesterol.
Having a leadership position in the fast moving consumer goods (FMCG), its well-known products including coconut oil, hair care and skin care reach out to more than 450,000 outlets in Bangladesh.
It is the first Indian company listed with Dhaka Stock Exchange and Chittagong Stock Exchange since mid-2009. Its shares jumped 8.70 per cent to Tk 430 after the news hit the market on the day.