Brands
Marico buys S. Africa’s ethnic hair-styling leader Isoplus
MUMBAI: Marico South Africa Pty. Limited (MSA), a wholly owned step-down subsidiary of Marico Limited, has announced the acquisition of business including related intellectual property rights of Isoplus, a leading hair styling brand in South Africa from JM Products SA Pty. Limited (JM Products) and Mary L Harris, its owner, for a consideration of 75 million South African Rand (around Rs 360 million) at a revenue multiple of 1.2. This strategic buyout will enable MSA to become a full spectrum ethnic hair care company in South Africa.
The acquisition comprises purchase of manufacturing facilities, working capital and all intellectual property rights owned by JM Products and Ms. Mary L Harris. The acquisition is expected to be fully consummated by mid-Q3 FY18.
Founded in 1995, JM Products is one of the largest African-American owned companies that manufactures hair care products in South Africa. The business operates in styling products, the second fastest growing segment within ethnic hair care. With a value market share of 27%, Isoplus is the leader in the styling segment, with oil sheens and styling gels being the main contributors to the brand’s top line. In 2016, J M Products clocked a sales turnover of 62 million South African Rand (circa Rs 300 million).
Marico is currently present in South Africa through brands like Caivil, Black Chic, Just for Kids, Hercules and Medi-Pac and is amongst the key players in the aftercare maintenance, chemical treatments and hair colour segments. This acquisition of the styling business of JM Products makes Marico’s portfolio in ethnic hair care complete.
Commenting on the acquisition, Saugata Gupta, MD and CEO, Marico Limited, said “This bolt-on acquisition plugs a critical gap in Marico’s portfolio in the ethnic hair care space in South Africa. Isoplus has a strong consumer franchise and I am confident that the team will leverage its strengths and expertise to further grow the business.”
John Mason, Managing Director and Business Head, MSA commented, “I am excited with this acquisition. The strength of the brand Isoplus coupled with years of sales and marketing expertise developed within will enable us to grow both, the category and our presence in the category in the long run.”
Brands
Faber-Castell India appoints Sunaina Haldar as director – marketing
With stints at Tata, SleepyCat and ADF Foods under her belt, Haldar is primed to redraw Faber-Castell’s brand story
MUMBAI: Faber-Castell India has poached Sunaina Haldar from ADF Foods, appointing her director – marketing as the German stationery brand looks to muscle up in a category that is rapidly reinventing itself around creativity and self-expression.
Haldar hit the ground running. “My first couple of weeks have been incredibly energising, understanding consumers, visiting markets, engaging with retailers and immersing myself into the world of Faber-Castell Group,” she said.
She arrives with considerable firepower. At ADF Foods, Haldar ran marketing across India and international markets for a portfolio spanning Ashoka, Aeroplane, Camel and ADF Soul. Before that, she was vice-president – marketing at direct-to-consumer mattress brand SleepyCat, where she helmed brand, content and performance marketing. Her résumé also includes a stint leading marketing, new product development and CRM for Tata SmartFoodz at Tata Consumer Products, no small proving ground.
Between corporate roles, Haldar also operated as a fractional CMO for early-stage startups, building marketing strategy and operational structures from scratch, a signal that she knows how to move fast with limited resources.
With 18 years straddling FMCG, D2C and the startup world, Haldar now takes the reins at a brand that has long owned the classroom but is clearly hungry for the living room. In a stationery market where the pencil has become a lifestyle statement, Faber-Castell has picked someone who knows exactly how to sell that story.
