Harsh Mariwala, the founder and Chairman of FMCG company Marico, is known for his wisdom on failure and success. His words hold deep meaning, especially when considering the journey of Saffola oats. Recently, Saffola oats overtook Quaker as the leading brand in the market. However, Saffola oats had experienced failure before achieving this success.
Mariwala, a visionary entrepreneur, built Marico into one of India’s largest FMCG businesses. He started in the family business and later founded Marico as a separate entity. During this journey, Mariwala launched the Saffola oil brand and identified an opportunity in the health food segment.
The first attempt at introducing a healthy baked snack under the Saffola brand failed. Mariwala realized that taste played a crucial role in consumer preference, leading to a valuable lesson. This lesson proved useful when Marico introduced Saffola oats.
Marico conducted extensive market research to create a perfect combination of health and taste for Saffola oats. They developed a range of masala oats that catered to different regional tastes. The innovation and understanding of Indian taste preferences allowed Saffola oats to challenge established players like Kellogg’s and Quaker.
Since then, Marico has expanded the Saffola brand, introducing various new products such as honey, peanut butter, soya chunks, and instant noodles. The success of Saffola oats exemplifies Mariwala’s wisdom on failure and growth.
Mariwala’s words hold true: failures contribute to future successes. It is the lessons learned from failures that pave the way for innovation and triumph.
