Fast moving consumer goods (FMCG) company Marico took a bold bet when it introduced its first digital exclusive brand Studio X in May last year. Ten months on, the company’s bet appears to be paying off with its e-commerce business growing four times between then and now. Online sales account for over 3 per cent of the company’s overall domestic business at the moment.
For the third quarter of 2019, the company reported revenues of Rs 1,861 crore, logging a year-on-year growth of 15 per cent. So far, it has clocked more than Rs 150 crore of sales through e-commerce in FY 2019. The ...
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