Harsh Mariwala On His Family Business

Professional managers can help family businesses grow: Harsh C Mariwala, Chairman & MD, Marico

I joined my family business in 1971. My family, a large joint one, owned diverse businesses collectively managed by family members. The businesses ranged from trading to manufacturing, but none leveraged any significant brands. In this backdrop, I strived over the subsequent two decades to create a distinct identity for a successful brand-basedFMCG business.

Still, in 1990, when we carved out the FMCG business into a new company called Marico, it was a leap of faith for me personally and a quantum jump for the business, which then had a turnover of Rs 80 crore. The separate corporate existence did impart a sharper focus and enhanced the growth potential. But it also held out a challenge — how would a new, unknown company attract talent? Read more of this post