Marico Bangladesh Investing 227 Crore In Economic Expansion2 min read
Marico Bangladesh has been serving in the market for the last two decades. The brand has established itself as a market leader in Value Added Hair Oils (VAHO), with Parachute taking the crown. Recently, Marico has decided to invest a staggering 227 crore TK in expanding its economic establishments.
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The Objective
With the objective of expanding its ‘Made in Bangladesh’ productions, Marico hopes to create new opportunities. One principle area that the investment will focus on is to set up a new plant in the Mirsarai Economic Zone. According to company officials, this investment is thriving on the company’s aspirations for long-term growth in Bangladesh.
In the current situations surrounding the global pandemic, the business dimensions within the country have certainly shifted. The Managing Director of Marico Bangladesh, Mr. Ashish Goupal has mentioned,
“The right socio-economic indicators are in place to unlock the potential of Bangladesh in a post-COVID-19 world”
Due to the pandemic affecting the lives of millions of people in Bangladesh, the economy has also taken a huge hit. Along with the negatives, comes to the opportunities. Marico sees the opportunities created in the economic environments due to the government’s initiatives to fast track economic recovery.
Ever since starting in 1999, Marico has gone from one brand to 29 renowned brands cementing their positions in the market. The brand has already expanded to India and Nepal with its ‘Made in Bangladesh’ products. Previously the company invested around 30 crore TK in setting up production plants in Gazipur, which now holds two plants and three manufacturing contracts.
Marico’s Stock Exchange performances have been booming, amidst the country’s economic troubles. Ever since enlisting in the DSE in 2009, the company has seen its share prices boom. The company came in the third position based on top share prices.
Although the company had not been able to meet its targets in the first quarter of the fiscal year due to the pandemic, stats clearly suggest that the company’s revenues are safeguarded to the T. Thus, an investment of 227 crore is not as staggering as seems from Marico’s perspective, after all.
