Launching a 'me too' brand is not going to succeed: Marico’s Harsh Mariwala

In a highly competitive environment, launching a "me too" brand is not going to succeed, Fast-moving Consumer Goods (FMCG) major Marico’s Founder and Chairman Harsh Mariwala said.

“In a highly competitive environment, to launch a 'me too' brand, it is going to be very difficult to succeed,” he said at the Mumbai edition of YourStory’s flagship startup-tech summit TechSparks 2024.

“If you have to succeed, you have to bring something new, something pioneering, something differentiated, which appeals to the consumers,” he told YourStory Founder and CEO Shradha Sharma in a fireside chat.

Mariwala went on to say that coming up with a brand should only be the starting point and companies should keep innovating to stay relevant.

“Initially, it may do well. It's a matter of time (before) other brands will copy you. You always have to be two steps ahead of others and go on innovating on a perpetual basis,” he said.

Mariwala also added that brands shouldn't just have an emotional and a rational side, but a larger purpose in the long run.

“There is a rational side to the brand which is good... but emotionally also, you have to connect with the consumer. And most importantly, as the brand progresses further, it has to have a purpose,” he said. "A purpose which is beyond what it does. It has to make a difference in the lives of individuals it touches.”

Established in 1988, Marico has built brands that have become household names in India, including hair oil brand Parachute and cooking oil brand Saffola. It has also played a prominent role in the burgeoning direct-to-consumer (D2C) space by acquiring companies such as men’s grooming brand Beardo, ayurvedic hair and skin care brand Just Herbs, and healthy breakfast and snack brand True Elements