Parachute is not only a leading brand in the hair oil industry but also one of the oldest brands that took the market of hair care to the next level. Parachute hair care range includes Parachute Hair Oil, Parachute Hair Cream, Parachute Hair Gel, Parachute After Shower Hair Cream and Parachute Hair Therapy.
It has been a long road for Parachute (the first branded coconut oil in the Indian market) and the journey began more than four decades ago. Today, the blue bottle is a strong metaphor in the coconut oil category and reaches around 18 million households every year in the country. The usage of this hair oil promotes hair growth, prevents pre-mature graying and controls dandruff.
Parachute’s market share rose to 70 per cent within 10 years and it has become one of the most recognised and trusted brands in India. Parachute has maintained a market share of nearly 50 per cent by coming up with regular packaging innovations, increasing user base with low-cost blister packs targeted at lower income classes and with focused micro-marketing initiatives.
Parachute is manufactured by Marico, one of the well-known FMCG companies in India that have successfully created brands in the largely commoditised business of hair oils and edible oils.
The company’s history can be traced back to 1948 when the Mariwala family, a well known name in trading circles, set up ‘Bombay Oil Industries Ltd. (BOIL)’, headquartered in Mumbai.
The company holds a number of brands including Parachute, Saffola, Hair&Care, Nihar, Mediker, Revive, Manjal, Kaya Skin Clinic, Livon, Set Wet, Zatak, Fiancee, Hair Code, Eclipse, Xmen, Hercules, Caivil, Code 78 and Black Chic.
The brand extensions in the value-added coconut oil segment have already grown to command 34 per cent share in the segment in India and are extremely popular with the users in the international markets.
In the late 1990s, Marico made its first entry into foreign markets by setting up a manufacturing plant in Bangladesh. Marico has nurtured multiple brands in the categories of hair care, skin care, health foods, male grooming, and fabric care. It manufactures products that add value to the life of one in every three Indians. Parachute won the Asia Star Award for the Parachute bottle warmer awarded by Asia packaging Federation. It has also been ranked as the ‘6th Most Trusted Brand’ in Bangladesh by the Bangladesh Brand forum.
