Marico SEA COO receives 'Visionary Leader' award

The award recognises Vaibhav Bhanchawat's tireless efforts, igniting passion and winning belief to "Make a difference" to help Marico SEA to become more impactful.

Marico is one of India's leading consumer product companies. In Vietnam, Marico leads in the personal care category for men with its X-Men brand. The company also has a portfolio of traditional Vietnamese condiments under the Thuan Phat brand and personal care products for women under the LASHE, Purite and Olive brands.

The Vietnam Excellence Award 2023 was jointly organized by Anphabe, the Vietnam Chamber of Commerce and Industry (VCCI) and other international Chambers of Commerce in Vietnam.

Officially appointed as the COO of Marico SEA during a period when the market was increasingly volatile due to the impact of the epidemic, Bhanchawat faced many challenges, including stagnant business results and personnel restructuring.

Bhanchawat said, “To obtain strong and sustainable development, we need a clear and inspiring strategy, in which the core value is nurturing talent, building internal strength through strong corporate culture."

Marico SEA culture is encapsulated in the words "GO WIN", which stands for Growth Mindset, Results Oriented, Win Together, Integrity and Nurture Talent. We believe that by nurturing and being consistent with our core values, we have created the leverage for Marico to bounce back.”

“We have given awards to recognise individuals and teams’ contributions to the company every day, every quarter, every half year, and every year. We have shared inspirational stories, encouraged creativity, and engaged employees in the company so that we can create a strong, single-minded vessel to overcome the storms,” said Bhanchawat.

In addition to building corporate culture and a strong and united workforce, Bhanchawat and his associates came together to make strategic changes in business.

To strengthen its core, Marico SEA implemented a series of X-Men product repositioning plans by rejuvenating the target audiences with dynamic new packaging and communication to make the brand more relevant to the young.

As a result, the brand X-Men demonstrated a comeback in the fiscal year 2022-2023 with the best sales growth ever in history. At the same time, X-Men gained market leadership in the men's deodorant and shampoo category and gained significant market share in the shower gel category.

The food category also saw strong double-digit growth and increased market share for fish Sauce - Marou SEA 's largest food category through its largest-ever mass-media promotions for this category.

For the first time, Marico SEA entered the field of personal care for women through the launch of Lashe Superfood brand and the acquisition of two brands Purité de Provence and Oliv.

Now, Marico SEA has set footprints in both the men's and women's personal care markets with three strategic women's body and hair care products, Lashe Superfood, Purite and Ôliv.

At the same time, Marico SEA initiates a strategy to promote omnichannel commerce. For the traditional distribution channel, the company focuses on increasing the performance of the sales team. At the same time, with a modern distribution channel, Marico SEA applies effective promotions, changed the display of products more impressively, and applied product classification methods, thereby gaining a significant market share.

Looking back on the three-year journey with the efforts to "Make a difference" Bhanchawat has led Marico SEA to achieve impressive business results, pursuing the goal of being one of the fastest growing FMCG companies in Vietnam, at the same time as inspiring and building a strong team.

Marico SEA has won many prestigious awards related to the Working Environment for two consecutive years. in 2022, for the first time, Marico SEA was in the top 30 in the list of Top 100 Best Places to Work in Vietnam.

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