Marico Ltd has acquired the haircare brand Fiancée from the Egypt-based Ready Group for an undisclosed amount.
The Fiancee brand comprises `value for money' hair creams and a hair gel range and has a 20 per cent share in the Rs 170-crore haircare market in Egypt. It also gives the company access to the manufacturing and sales infrastructure for the 15-year-old brand.
In a notice to the BSE, the Marico Group Chairman, Mr Harsh Mariwala, said, "This footprint in Egypt will help us widen our strides in the international haircare market". Mr. Sayed El Ready, Chairman of the Ready Group, said, "Marico with its expertise in the haircare segment, would make a big success of the Fiancee brand.
International business
Marico 's international business turnover during FY 2006 was Rs 117 crore - about 10 per cent of the Group's revenue. During 2006, Marico made four acquisitions both within and outside India. Adopting a strategy of growing through acquisitions, Marico is open to buying out more brands globally in the beauty and wellness segments.
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In a notice to the BSE, the Marico Group Chairman, Mr Harsh Mariwala, said, "This footprint in Egypt will help us widen our strides in the international haircare market". Mr. Sayed El Ready, Chairman of the Ready Group, said, "Marico with its expertise in the haircare segment, would make a big success of the Fiancee brand. 
