Fast-moving consumer goods giant Marico Ltd is open to acquiring more new-age FMCG brands after taking over male grooming startup Beardo earlier this year, chairman Harsh Mariwala told VCCircle.
Mariwala said in a podcast Marico would be interested in unique and innovative new-age consumer brands.
The company would look at acquisitions in the health and beauty segments, in line with its focus areas, as well as the hygiene segment in the wake of the coronavirus pandemic, he said.
Marico had first invested in Beardo in 2017. It took complete control of startups three months ago, in one of the few instances where an FMCG giant acquired a new-age consumer brand.
During the podcast, Mariwala also shared his insights on how some new-age consumer brands find it challenging to scale up after a certain point and how they can overcome that hurdle.
Mariwala, who is also the founder of the Marico Innovation Foundation, talked about what the government and the country need to do to boost the startup ecosystem.
The foundation is a non-profit organisation that Mariwala started in 2003. It has helped startups through initiatives such as awards that help startups showcase their innovations and via a scale-up programme.