Marico to enter skincare market

Hair oil and edible oil maker Marico will enter the Rs 4,500-crore skincare market in the country by extending its 2 decade old coconut hair oil brand, Parachute, to body lotion and other skincare products, according to some company sources.

The body lotion will be at an entry-level pricing to compete in the mass segment. The company has carried out a low-key test exercise in the east, and a wider rollout in select cities is expected in a few weeks from now.

The company will enter the cluttered skincare market under the Parachute Advanced umbrella and compete with Hindustan Unilever's Vaseline and Pond's, German company Beiersdorf's Nivea, L'Oreal's Garnier and Johnson & Johnson's Neutrogena among others.