In Feb 2003, Marico acquired a controlling equity interest in Sundari LLC, the owner of the SUNDÃRI line of luxury ayurvedic skin care products (2002 turnover ~$1 million). This entry in the Global Ayurvedics segment represents Marico’s first acquisition in a developed country and its entry into the skin care products market.

Sundari LLC, incorporated in January 2003 in the State of Delaware, is a joint venture between Marico Industries Ltd. and Shantih LLC. Marico and its affiliate Adil & Associates hold 70.5% of the equity of Sundari LLC. Shantih LLC, which is owned by the founders of SUNDÃRI and a group of private investors, own the remaining 29.5%. Sundari LLC has its headquarters in the city of New York.

Sundari Products:
Founded in 1999 by Ayla Hussain, Cavan Mahony and Christy Turlington, SUNDÃRI skin care is based on the 5000-year-old Indian science of Ayurveda. Ayurveda teaches that the balancing of mind, body and spirit will ultimately lead to peace, harmony and lasting beauty. SUNDÃRI, which means “beautiful woman” in Sanskrit, represents “the beauty of being well”. The SUNDÃRI skin care line consists of 20 products including cleansers, moisturizers and essential oils with beautiful packaging designed by Fabien Baron. SUNDÃRI formulations use the powerful regenerative properties of plants, herbs, roots, essential oils and floral extracts, many of which are sourced from India.

Products retail for between $22-$90 per pack. SUNDÃRI was named the Beauty Category Winner by Fashion Group International in 2001.

Reach:

The SUNDÃRI line is available in 75 doors world-wide including Barneys New York, Selfridges (London), Earthsavers (USA), Equinox (USA); Ludwig Beck (Munich); Fred Segal (LA); Shuei Trading (Gulf); Shambala Retreat (Turks & Caicos) and online at www.sundari.com.

Future Plans:
The immediate plan is to expand business in a focussed, de-risked manner by introducing newer skin care products and using newer channels of distribution.

In the long run, Sundari will enable Marico to increase its value-added presence with an established and recognized consumer brand, which shares its philosophies and heritage. Marico will benefit from SUNDÃRI’s knowledge of the luxury skin care consumer and the American market. In kind, SUNDÃRI will benefit from Marico’s resources and support, including the extensive research and development efforts and management expertise necessary.

The acquisition will eventually help Marico to develop franchise for its homegrown brands, in parts of the world beyond the sub continent. For further details on Sundari, please log on to www.sundari.com.