Parachute (brand)
Parachute is a brand name for a range of coconut-based hair products manufactured by Marico.
History
Parachute is the flagship brand of Marico. Before the 1991 economic liberalisation in India the government classified vegetable oils as an essential commodity and as being in short supply, and thus ineligible for export. This meant that Parachute products could not be exported to foreign markets.[1]
In the late 1990s Marico made its first serious entry into foreign markets by setting up a manufacturing plant in Bangladesh. Parachute's market share rose to 70% within ten years and it had become one of the most recognized and trusted brands in that country.[1]
References
- ↑ 1.0 1.1 Kumar, Nirmalya (2009). India's Global Powerhouses. Harvard Business Press. pp. 136–8. ISBN 978-1-4221-4762-7.