Marico’s announcement that its digital-first brands Beardo, True Elements, Just Herbs, and Plix have each crossed ₹1,000 crore ARR signals a structural shift in how large FMCG companies build, scale, and monetise next-generation consumer businesses. What began as an experiment in portfolio diversification is now becoming one of Marico’s most powerful growth engines.
The milestone reflects a broader pattern: India’s D2C ecosystem is maturing, and incumbents like Marico are proving that digital brands can scale sustainably when backed by FMCG-grade distribution, capital discipline, and category depth.
Digital Is No Longer an Adjunct It’s Becoming the Core
CEO Saugata Gupta’s forecast that digital brands will contribute 25% of India revenue within three years is not a bold ambition it’s a signal of strategic realignment.
Marico isn’t treating D2C as a separate high-burn playground. Instead, it is:
- integrating these brands into its mainstream sales and distribution engine,
- premiumising categories like men’s grooming and wellness, and
- using data-led digital demand to predict offline expansion.
This dual-channel flywheel is where Marico outperforms most standalone D2C players.
Two Breakthroughs Stand Out: Beardo’s Profitability + Plix Break-even
Beardo’s double-digit EBITDA is particularly notable in a segment where customer acquisition costs often crush margins. It shows that men’s grooming, when driven by brand equity and sustained digital recall, can become a profitable category not a loss-making D2C experiment.
Plix hitting break-even marks another important shift: D2C nutrition is finally stabilising. With rising health-conscious consumption and higher repeat rates, Plix is entering a phase where volume and margin can expand simultaneously.
Together, these two wins give Marico a replicable playbook for future digital acquisitions.
Food Category Momentum Strengthens the Portfolio
True Elements’ strong performance is aligned with one of the fastest-growing consumer trends in India: clean-label, ingredient-led, and functional foods. Marico’s commitment to build this as a long-term category instead of chasing vanity GMV spikes is paying off.
The brand’s traction also validates Marico’s strategy of using digital-first food brands as an entry point into nutrition, breakfast, and snacking adjacencies.
Why This Matters for the Industry
Marico has effectively proven that:
- big FMCG can successfully incubate and scale digital-first brands,
- profitability is achievable in D2C when backed by operational discipline,
- and premium categories in grooming and wellness have sustainable long-term demand.
As more FMCG giants look to acquire or build D2C brands, Marico’s playbook will likely become a template for how traditional and digital ecosystems converge.
The Road Ahead
Expect Marico to:
- aggressively scale offline distribution for Beardo, Plix, and True Elements,
- expand premium personal-care and nutrition portfolios, and
- pursue more targeted acquisitions in high-repeat digital categories.
If this momentum continues, Marico could become India’s most balanced FMCG company strong in mass retail, strong in premium, and now increasingly strong in digital-native brands.
