Brands
Marico eyes gulf as digital brands set sights on Rs 4,000 crore by FY30
From vietnam to the middle east, marico bets big on digital-first growth
MUMBAI: Marico is gearing up to take its digital-first brands to the Gulf, targeting the United Arab Emirates and Saudi Arabia as it seeks a fresh wave of international growth.
The Mumbai-based consumer goods giant, famous for Parachute hair oil and Saffola edible oils, is riding the surge in smartphone use and e-commerce adoption in the region.
“In the Middle East, we are focusing on markets like the UAE and KSA, which rank among the world’s most connected,” said MD and CEO Saugata Gupta.
Marico has been sharpening its digital edge over the past eight years, scooping up six homegrown online brands including Beardo, Just Herbs, and Plix. Earlier this month, it boosted its Southeast Asian presence with a 75 per cent stake in Vietnam’s Skinetiq, home to the brand Candid, for Rs 261 crore. Altogether, these deals tally to around Rs 1,665 crore.
The strategy is already paying off. Beardo has grown fivefold since joining Marico, while plant-based nutrition brand Plix has expanded six times in two years and pivoted from pure nutraceuticals into hair and skin food, significantly improving profit margins. Functional wellness brand Cosmix, with an annual revenue run-rate of Rs 100 crore, targets the protein deficiency gap affecting 73 per cent of India’s population and boasts high-teen Ebitda margins.
Gupta said the company is now eyeing profitable brands with annual revenues of Rs 100–150 crore, a sweet spot that allows rapid expansion without heavy losses. Organic launches continue to add spice. In Vietnam, Marico rolled out Astroman and Lashe, aimed at men’s and women’s personal care, using a social commerce model that taps bloggers and influencers on platforms like TikTok. After navigating currency and demand challenges, Vietnam returned to 22 per cent constant-currency growth in Q3 FY26, with double-digit momentum expected to continue.
The company’s broader digital strategy is organised as a three-pronged digital chessboard: digital foods, digital personal care, and global digital brands. Gupta projects that Marico’s digital portfolio could collectively generate Rs 4,000 crore by FY30, while its new businesses are expected to contribute roughly 33 per cent of total India revenues in the same period.
To boost margins in competitive categories like food, Marico plans to leverage its institutional weight by cutting costs through centralised media buying on platforms like Meta and Google and using high-velocity supply chain capabilities. In the Middle East, the group intends to replicate its Indian success by bringing digital food brands to markets with high smartphone penetration.
With this blend of strategic acquisitions, organic launches, and operational know-how, Marico is clearly betting that its digital-first brands will power the next chapter of growth, beyond staples and across borders.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
