Figaro’s Next Chapter

Repositioning Figaro for a new generation

Kalpana Ravi

With over 40% market share in India’s Rs 880 crore olive oil category, Figaro has built its leadership through consumer trust and word of mouth. With household penetration at around 1%, Deoleo India aims to expand the category, attract younger consumers and take the brand beyond cooking. Satarupa Majumdar, Director of Marketing & Innovation, Deoleo India, speaks to Ad-Mirror.com about Figaro’s growth strategy. The challenge is to grow without diluting its legacy.

The Changing Consumer

Consumers are becoming more aware, discerning and informed. With rising purchasing power, they want to make choices that are good for them. As a category leader, our responsibility is to build awareness, expand olive oil adoption and make it more accessible. We have enjoyed consumer trust for over four decades.

Figaro’s Growth Opportunity

The olive oil category is approximately Rs 880 crore, with household penetration at around 1%, indicating significant headroom. Figaro enjoys over 40% market share and has grown organically. The next phase is about making the brand relevant to younger consumers.

We are focusing on four growth levers: communication, packaging, distribution and accessibility. We currently reach approximately 2.5 lakh outlets and aim to add another 50,000. E-commerce and quick commerce contribute around 30% of our business. We are also introducing convenient formats, including PET bottles starting from 50 ml, to improve accessibility.

Beyond Traditional Consumption

We do not want to dictate how consumers should use our product. Brands grow when consumers reshape them. Consumers are discovering different applications for olive oil, including personal care and wellness. Our role is to understand these behaviours and translate them into relevant product offerings, formats and innovations. New consumption occasions can expand the category.

Winning Younger Consumers

Our biggest influencers have traditionally been mothers and grandmothers, who built Figaro through household recommendations. However, they are not necessarily present on Instagram or digital platforms. We have to evolve.

Consider Isabgol. Traditionally associated with digestive health, consumers now incorporate it into cereals and brownies. The product has not fundamentally changed; consumer perceptions and usage have.

Olive oil fits naturally with growing interest in health, fitness and wellness. Content creators can demonstrate its everyday applications. We do not necessarily need celebrity faces or mega influencers, but relatable content that connects with younger consumers.

The Data Advantage

We work with Nielsen and Kantar, use household panels and have comprehensive pre- and post-innovation evaluation processes. We are equally data-driven in analysing marketing investments, tracking new-to-brand consumers, retention and acquisition costs.

Ultimately, it is about unit economics and contribution margins. Acquiring consumers or generating awareness is not enough; investments must create sustainable business value.

Rethinking Media Investments

This year, alongside our packaging transformation, we consciously allocated 55% of our media investment to television. The decision followed consumer research conducted with our media partners, Starcom, across priority markets, including Tier 1 and Tier 2 cities.

The research indicated that television remained important to these audiences. Since this was the first major packaging transformation in the brand’s history, awareness and reach were priorities. Our campaign featured Sunil Grover, supported by print, social media, digital and performance marketing.

The media mix will evolve with changing consumer behaviour, AI and newer platforms. Our decisions will be guided by where consumers spend their time and what delivers results.

Measuring Digital Impact

Digital is not just measurable; it is trackable. We can evaluate whether campaigns generate impressions or conversions and distinguish new-to-brand consumers from existing loyalists.

These insights allow real-time optimisation. If something works, we scale it; if it does not, we modify the approach. However, digital cannot be viewed in isolation. The larger question is whether the entire media investment contributes to business outcomes. Marketing, sales and business economics must work together.

An Indian Identity

I would say Figaro is more Indian than Spanish in terms of its market identity. India accounts for approximately 95% of the brand’s volume. Its future will be shaped by Indian consumers.

In Uttar Pradesh, consumers recognise Figaro as the green tin and hara dibbi wala jaitun ka tel. They do not necessarily need to be told it is olive oil. The iconic green tin and this association are integral to the brand. We want to preserve that familiarity while introducing contemporary formats.

The Next Decade

Relevance. Relevance and relevance.

Our ambition is to make Figaro part of everyday life. We want consumers to discover new usage occasions, understand its versatility and incorporate it into their lives. What we cannot afford to lose is the trust and familiarity built over four decades. That is what we want to take forward as we make Figaro more relevant to young India.