imported>Marcocapelle at 06:31, 29 August 2021

2021-08-29T06:31:46Z

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{{short description|Indian entrepreneur}}
{{Infobox person
| name = Harsh Mariwala
| image =
| caption =
| birth_name =
| birth_date =
| birth_place = [[Mumbai]], [[Maharashtra]], India
| nationality = [[Indian people|Indian]]
| death_date =
| death_place =
| alma_mater = [[Sydenham College of Commerce and Economics|Sydenham College of Commerce and Economics, Mumbai]]
| occupation = Chairman, Marico
| years_active = 1971 {{endash}} present
| known_for = Founder of Marico
| spouse = Archana
| children = 2
| parents =
| relatives =
| signature =
| networth = {{USD|2.5 billion}}
}}
'''Harsh Mariwala''' is an Indian entrepreneur, who is the founder and Chairman of [[Marico]],<ref name="mastermentor">{{cite news|last1=Panchal|first1=Salil|last2=Srivastava|first2=Samar|title=Harsh Mariwala: Marico's master mentor Forbes India|url=http://www.forbesindia.com/article/india-rich-list-2017/harsh-mariwala-maricos-master-mentor/48741/1|access-date=19 May 2018|work=Forbes India|date=27 November 2017}}</ref> a [[Fortune India 500]] company.<ref name="fortuneindia500">{{cite news|title=Marico - Fortune 500 List 2017 - Fortune India|url=https://www.fortuneindia.com/fortune-500/company/marico?year=2017|access-date=19 May 2018|work=Fortune India|language=en}}</ref>

Mariwala began his career in 1971 with [[Bombay Oil Industries]] which was controlled by his family. In 1990, he founded Marico, a [[fast moving consumer goods]] (FMCG) manufacturer and distributor that now has operations in 25 countries across [[Asia]] and [[Africa]].

He is also the founder of [[Kaya Limited]], which runs a chain of [[skin care]] clinics across India and the [[Middle East]]; Ascent Foundation, a peer-learning entrepreneurial platform; Marico Innovation Foundation, that works towards nurturing innovations in India; Mariwala Health Initiative, that supports [[mental health]] causes; and Sharrp Ventures, which serves as his family office.<ref name="mastermentor" />

As of 2021, Mariwala has been ranked by [[Forbes]] as the 55th wealthiest Indian, with an estimated net worth of approximately $2.5 billion.<ref>{{Cite web|title=Harsh Mariwala|url=https://www.forbes.com/profile/harsh-mariwala/|access-date=2021-07-07|website=Forbes|language=en}}</ref>

==Family and early life==
Mariwala's grandfather, Vallabhdas Vasanji migrated to Mumbai (then Bombay) from [[Kutch]] in 1862. Vasanji became known as "Mariwala" as he was dealing in pepper, which is known as ''mari'' in [[Gujarati language|Gujarati]]. Mariwala's father Charandas founded [[Bombay Oil Industries|Bombay Oil Industries Limited]] in 1948 along with three of his brothers which manufactured and traded in [[spice]]s, [[oil]]s and [[chemical]]s.<ref name="unusualbillionaires">{{cite book |last1=Mukherjea |first1=Saurabh |title=The Unusual Billionaires |date=2016 |publisher=Penguin UK |isbn=9789386057679 |pages=30–57 |url=https://books.google.com/books?id=UL3BDAAAQBAJ |access-date=19 May 2018 |language=en}}</ref>

Mariwala was brought up in [[South Mumbai]] educated at [[Sydenham College]] in Mumbai and joined the family enterprise in 1971.<ref name="unusualbillionaires" /> He started the consumer products business of the company in 1975 and took its two major brands, [[Parachute (brand)|Parachute]] [[coconut oil]] and Saffola [[edible oil|refined oil]] to the next level.<ref name="consumerproducts">{{cite news|last1=Pinto|first1=Viveat Susan|title=The man who changed the game at Marico|url=http://www.business-standard.com/article/companies/the-man-who-changed-the-game-at-marico-114041001382_1.html|access-date=19 May 2018|work=Business Standard India|date=10 April 2014}}</ref> Innovations such as smaller packaging and use of plastic bottles in place of metal tins along with focus on advertising, marketing, human resources and distribution helped establish the two brands as market leaders in their respective categories.<ref name="unusualbillionaires" />

==Marico==

At Bombay Oil Mills, Mariwala had limited autonomy as management responsibilities were shared amongst the family members. Moreover, he saw the firm as a [[business to business]] venture more than the [[business to consumer]] venture he envisaged. Therefore, he took a decision to start Marico as a separate entity.<ref name="unusualbillionaires" /> Mariwala initially found it difficult to recruit talented employees given that their office was then located in the crowded market area of [[Masjid Bunder]], hence he held interviews at the [[Royal Willingdon Sports Club]] and later moved the Marico office to a more accessible area, [[Bandra]].<ref name="willingdonclubinterviews">{{cite book |last1=Bhasin |first1=Sonu |title=The Inheritors: Stories of Entrepreneurship and Success |date=2017 |publisher=Penguin Random House India Private Limited |isbn=9789386815958 |pages=312 |url=https://books.google.com/books?id=f7E4DwAAQBAJ |access-date=19 May 2018 |language=en}}</ref> Along with focus on innovation and investing in brand building, Mariwala focused on establishing a company culture to empower employees and values such as trust to establish it as a force to reckon with.<ref name="culturevalues">{{cite book|last1=Piramal|first1=Aparna|title=Working Out of the Box: 40 stories of Leading CEOs|date=2015|publisher=Random House India |isbn=9788184007367 |pages=256 |url=https://books.google.com/books?id=qMiUCgAAQBAJ |access-date=19 May 2018 |language=en}}</ref><ref name="values">{{cite news |title=Harsh Mariwala, Ajay Piramal stress on right values and culture to attract millennials |url=https://economictimes.indiatimes.com/news/company/corporate-trends/harsh-mariwala-ajay-piramal-stress-on-right-values-and-culture-to-attract-millennials/articleshow/60805412.cms |access-date=19 May 2018 |work=The Economic Times |date=23 September 2017}}</ref>

In the late 1990s Marico made its first serious entry into markets outside India by setting up a manufacturing plant in [[Bangladesh]]. Thereafter, the company has set up or acquired other consumer brands businesses in several countries.<ref name="globalpower">{{cite book |title=India's Global Powerhouses: How They Are Taking on the World |last=Kumar |first=Nirmalya |author-link=Nirmalya Kumar |year=2009 |publisher=[[Harvard Business Press]] |isbn=9781422129463 |pages=136–8 |url=https://books.google.com/books?id=itqkCifrcjUC}}</ref> The company has built a portfolio of brands in the [[hair care]], [[skin care]], [[edible oil]]s, [[health food]]s, [[male grooming]], and [[Laundry detergent|fabric care]] space. Its major brands include Saffola, Parachute, Hair & Care, Nihar, Livon, Set Wet, Mediker and Revive.<ref name="opticalmarico">{{cite news|last1=Sheth|first1=Neha|title=Optical Marico|url=https://www.outlookindia.com/outlookmoney/investment-ideas/optical-marico-2090|access-date=20 May 2018|work=Outlook India|date=10 August 2017|language=en}}</ref>

Harsh Mariwala took Marico public with an [[initial public offer]]ing in 1996. In India, Marico bought the hair care brand Nihar from [[Hindustan Unilever]] in 2006 and personal care brands Set Wet, Livon and Zatak from [[Reckitt Benckiser]] in 2016.<ref name="mastermentor" />

In 2003, Mariwala spotted an opportunity in the skin care clinics space and founded [[Kaya Limited]] as a subsidiary of Marico. In 2013, when Kaya was demerged from Marico and listed on stock exchanges as a separate entity it had 107 skin care clinics out of which 82 were located in India and had a range of 54 skin care products in its portfolio.<ref name="kaya">{{cite news|last1=Chatterjee|first1=Purvita|title=Why Marico shed its Kaya skin|url=https://www.thehindubusinessline.com/companies/Why-Marico-shed-its-Kaya-skin/article20576526.ece|access-date=19 May 2018|work=The Hindu Business Line|date=10 February 2013|language=en}}</ref>

In 2014, Mariwala decided to step down as [[Managing Director]] whilst continuing to serve as Chairman.<ref name="md">{{cite news|last1=Agarwal|first1=Sapna|title=Marico CEO Saugata Gupta takes over MD role|url=https://www.livemint.com/Companies/P2GXjjvmClyaNOwCXdk75K/Marico-CEO-Saugata-Gupta-takes-over-MD-role.html|access-date=19 May 2018|work=Live Mint|date=25 March 2014}}</ref> Mariwala brought in professional leadership to replace him in the company and his focus since has been on strategic direction and board management at Marico.<ref name="professional">{{cite news|last1=Agarwal|first1=Sapna|title=What will the Marico of tomorrow look like?|url=https://www.livemint.com/Home-Page/OaOMrsQUmA4rRdJM2SHmkL/What-will-the-Marico-of-tomorrow-look-like.html|access-date=19 May 2018|work=Live Mint|date=19 September 2016}}</ref>

==Social responsibility==
{{ad|date=January 2021}}
Mariwala founded the Marico Innovation Foundation (MIF) in 2003 which is focused on supporting sustainable businesses.<ref name="mif">{{cite news|last1=Haq|first1=Zia|title=Harsh Mariwala, Marico|url=https://www.outlookindia.com/magazine/story/harsh-mariwala-marico/298671|access-date=19 May 2018|work=Outlook India|date=3 April 2017}}</ref> MIF is the [[Corporate Social Responsibility]] (CSR) arm of Marico.<ref name="mifcsr">{{cite news|title=The 6th edition of Innovation for India Awards 2016 recognizes 6 unique innovations in the business and social sector {{!}} Free Press Journal|url=http://www.freepressjournal.in/press-release/the-6th-edition-of-innovation-for-india-awards-2016-recognizes-6-unique-innovations-in-the-business-and-social-sector/806004|access-date=20 May 2018|work=Free Press Journal|date=17 March 2016}}</ref> It aims to nurture [[startup]]s by mentoring and creating an ecosystem of cutting edge research, knowledge creation and dissemination. MIF hosts the MIF Awards, a biennial event where innovations across Indian business industry and social causes are picked by a jury.<ref name="iiawards">{{cite news|title=11 shortlisted for Marico innovation awards|url=https://www.thehindubusinessline.com/companies/11-shortlisted-for-marico-innovation-awards/article23117524.ece|access-date=20 May 2018|work=The Hindu Business Line|date=19 March 2014|language=en}}</ref>

In 2012, he set up Ascent Foundation as a [[peer to peer|peer learning]] platform for entrepreneurs where they can learn from each other through exchange of insights, experiences and ideas in a confidential environment. It is through these 'Trust Groups' that entrepreneurs have been able to address some of their challenges. As of 2020, ASCENT has over 600 member entrepreneurs.<ref name="ascent">{{cite news|last1=Deuskar|first1=Nachiket|title=Marico founder Harsh Mariwala to entrepreneurs: Learn to let go as you grow|url=https://www.moneycontrol.com/news/business/marico-founder-harsh-mariwala-to-entrepreneurs-learn-to-let-go-as-you-grow-2428205.html|access-date=19 May 2018|work=Moneycontrol|date=3 November 2017}}</ref> In 2014, Mariwala founded the Mariwala Health Initiative (MHI) which is run by his daughter Rajvi and is a philanthropic project focused on supporting [[mental health]] issues.<ref name="mhi">{{cite news|last1=Mishra|first1=Lalatendu|title=Mariwala commits to fund mental health projects|url=http://www.thehindu.com/business/mariwala-commits-to-fund-mental-health-projects/article21823182.ece|access-date=19 May 2018|work=The Hindu|date=16 December 2017|language=en-IN}}</ref>

==Investments==
Mariwala has set up a family office, Sharrp Ventures, which is headed by his son Rishabh. The venture invests in listed and unlisted companies. As of 2017, it had invested in eight unlisted equities, five funds and one incubator at the [[Seed money|seed]], [[Series A]] or [[Series B]] stage.<ref name="rishabhsoaps">{{cite news|last1=Kotecha|first1=Arushi|title=Rishabh Mariwala: No churn, but beating Nifty is a goal|url=https://www.livemint.com/Leisure/kyLDlU0St1ZdBhSZsFeUCI/Rishabh-Mariwala-No-churn-but-beating-Nifty-is-a-goal.html|access-date=19 May 2018|work=Live Mint|date=15 September 2017}}</ref>

==Personal life==
Harsh Mariwala is married to Archana and they have two children, an elder daughter Rajvi and a younger son, Rishabh. Both his children were a part of the family business before branching out on their own.<ref name="lalacompany">{{cite news |last1=Vijayaraghavan |first1=Kala |title=Why Harsh Mariwala's Marico not a 'lala' company |url=https://economictimes.indiatimes.com/not-a-lala-company/slideshow/24858873.cms |access-date=19 May 2018 |work=The Economic Times |date=29 October 2013}}</ref> His daughter Rajvi is part of the Marico Health Initiative<ref name="rajvimhi">{{cite news |last1=Gupte |first1=Masoom |title=Harsh Mariwala's daughter Rajvi Mariwala has no qualms about being a 'feminist' |url=https://economictimes.indiatimes.com/magazines/panache/harsh-mariwalas-daughter-rajvi-mariwala-has-no-qualms-about-being-a-feminist/articleshow/57909804.cms |access-date=19 May 2018 |work=The Economic Times |date=30 March 2017}}</ref> whereas his son Rishabh runs his venture Soap Opera n More, manages the family office Sharrp Ventures and is a [[non-executive director]] at Marico.<ref name="rishabhsoaps" />

Mariwala is a committed vegetarian by birth and is also a fitness enthusiast. He works out at gymnasium daily and plays [[golf]] on weekends.<ref name="mariwalagymgolf">{{cite news|last1=Saxena|first1=Aditi|title=Gymming, golf and small meals: Secret of Marico’s Harsh Mariwala's fitness|url=https://economictimes.indiatimes.com/magazines/panache/gymming-golf-and-small-meals-secret-of-maricos-harsh-mariwalas-fitness/articleshow/33848658.cms|access-date=19 May 2018|work=The Economic Times|date=17 April 2014}}</ref> He is also known to be fond of playing [[Squash (sport)|squash]], [[swimming]], [[fencing]] and [[trekking]].<ref name="games">{{cite news |last1=Rebello |first1=Maleeva |title=Harsh Mariwala, Marico Chairman, has a new interest: fencing |url=https://economictimes.indiatimes.com/magazines/panache/harshmariwala-marico-chairman-has-a-new-interest-fencing/articleshow/55700390.cms |access-date=20 May 2018 |work=The Economic Times |date=30 November 2016}}</ref>

==References==
{{reflist}}

{{DEFAULTSORT:Mariwala, Harsh}}
[[Category:Living people]]
[[Category:Businesspeople from Mumbai]]
[[Category:Indian billionaires]]
[[Category:Indian chairpersons of corporations]]
[[Category:Year of birth missing (living people)]]

Harsh Mariwala - Revision history

imported>Marcocapelle at 06:31, 29 August 2021