Spain-based Deoleo, the world’s largest olive oil company, is stepping up its India play, as it looks to tap one of the world’s fastest-growing markets for healthy cooking oils. The Madrid-headquartered company, which reported revenues of €822 million, has unveiled an aggressive strategy to strengthen its flagship Figaro brand through a refreshed identity, redesigned packaging and a nationwide marketing campaign, featuring actor and entertainer Sunil Grover.
The move comes as India’s olive oil market, estimated at Rs880 crore today, is expected to more than double to nearly Rs2,000 crore by 2034, driven by rising health-consciousness, changing food habits, increasing disposable incomes and growing acceptance of Mediterranean diets. Despite accounting for only a small share of the country’s edible oil consumption, olive oil has emerged as one of the fastest-growing premium cooking oil categories.
For Deoleo, India represents a strategic long-term growth market. The company, which operates in more than 68 countries across five continents, believes the market offers significant headroom for expansion, as household penetration remains low compared with developed markets.
“India represents one of the most exciting opportunities within Deoleo’s global portfolio,” says Tomislav Bucic, chief officer, North Europe & APAC-MEA, Deoleo. “This market is large, diverse and evolving, making it strategically important for the long-term growth of the category. We continue to see significant headroom for expansion and remain committed to investing in the market through our brands, distribution capabilities and consumer engagement initiatives”.
Established in 1919, Figaro has been present in India for more than four decades and has built a strong reputation for quality and purity. The latest brand refresh is aimed at reinforcing Figaro’s positioning as a multipurpose olive oil suitable for Indian kitchens. Traditionally viewed primarily as a salad dressing or premium cooking ingredient, olive oil is increasingly being adopted for everyday cooking. Reflecting this trend, the multi-purpose segment now contributes nearly 48 per cent of Figaro’s business in India, making it the largest segment in the brand’s portfolio.
Purity credentials
To strengthen this proposition, Figaro has introduced redesigned bottles and tins featuring a more contemporary visual identity, while retaining the iconic Figaro logo. The new packaging highlights the brand’s purity credentials, improves product navigation and includes a sleeker ergonomic bottle with a flip-top cap for greater convenience.
The transformation has been shaped by evolving consumer behaviour in the country, affirms Vishal Sarin, GM, Deoleo India. “Over the years, consumers have shaped Figaro’s journey in India in ways that are unique to this market,” he adds. “Multi-purpose consumption has emerged as an important driver of growth for the brand and this refresh is about bringing greater visibility to that strength. Through a sharper positioning, refreshed packaging and stronger communication, we are creating a more distinctive identity that reflects how consumers already engage with Figaro today”.
The company has also launched a national advertising campaign, featuring actor and entertainer Sunil Grover, whose versatility and relatable persona are expected to help communicate Figaro’s multi-purpose proposition through humour and everyday situations. The campaign will run across television, digital media, influencer platforms and retail channels as part of an integrated marketing strategy.
Alongside brand-building initiatives, Deoleo continues to expand its distribution footprint in India. Its products are now available through nearly 250,000 retail outlets, spanning general trade, modern retail and e-commerce platforms. The company plans to deepen its presence in both established metropolitan markets and emerging cities, while investing in consumer education to accelerate category adoption.
Figaro serves as Deoleo’s flagship brand in India, while globally the Spanish major owns some of the world’s best-known olive oil brands, including Bertolli, Carbonell, Carapelli, Koipe and Maestros de Hojiblanca. The company operates production facilities in Spain and Italy and sells its products in more than 68 countries. Figaro olive oil marketed in India is produced in Spain and repackaged locally under stringent quality standards.
With a market-leading position, extensive distribution network and renewed investment in branding and awareness, Deoleo is positioning Figaro to remain at the forefront of this evolving category.