Marico Bangladesh, a consumer product multinational company, has launched its first male grooming brand named 'Studio X' in Bangladesh with a wide range of premium products for men.
This range comprises of shampoos, face wash, hair gels and deodorants for men.
The digital exclusive brand was unveiled in style at the Pan Pacific Sonargaon Hotel in the capital on Tuesday.
Ashish Goupal, managing director of Marico Bangladesh Ltd, inaugurated the new brand.
The brand also launched a website www.studioxstyle.com for the style-conscious men of Bangladesh. The website has been designed with information on grooming and styling for men.
Regarding the launch, Ashish Goupal said, "With a younger and more connected generation, today's male consumer segment is more aware than ever of their appearance and have specific grooming needs."
"We are delighted to introduce our international male grooming range in Bangladesh, to cater to today's style-conscious men of Bangladesh," he added.
At the beginning of this year, Marico Bangladesh invested Tk29.3 crore to expand the capacity of its factory in Gazipur, and set up a new manufacturing line.
Replying to a query, Ashish said, "Our company publishes a financial performance report every quarter. The impact of a new business will be reflected on it."
The company has been enjoying a steady rise in profit for the last five years. Among the multinational companies listed in the share market, Marico's profit has been increasing continuously.
In the 2018-2019 fiscal year, Marico's turnover was nearly Tk877 crore. The company's net profit was Tk202 crore and its earnings per share was Tk63.23.
The share price of the company at the Dhaka Stock Exchange was Tk1,677 on Tuesday. The lowest and highest price of its share in a year was Tk1216 and Tk1890 respectively.
Twenty years since inception, Marico Bangladesh has transformed itself from a single-brand company to a company with a present day portfolio of 24 brands in personal care and food categories.