In a world where business is often a numbers game, Emami stands out for its commitment to values that transcend balance sheets and profit margins. From its deeply rooted focus on consumer-first decisions to its unwavering adherence to promises, Emami has carved out a unique path in India’s FMCG market. Anchored in principles guiding personal and professional choices, Emami’s leadership is redefining what it means to be a legacy company in a rapidly evolving landscape.
As Emami expands into new categories like pet care and nutrition and strengthens its portfolio with acquisitions, its approach remains refreshingly grounded in quality and sustainability.
In a candid conversation with ETRetail’s Pallavi Goel for the Inaugural Edition of ‘Top Shelf’, Harsha V. Agarwal, Vice Chairman and Managing Director of Emamireflects on the company’s guiding principles, its approach to fostering collaboration across generations, and the legacy it aims to build for the future. Here’s a look inside the values-driven strategy that is propelling Emami forward.
Pallavi Goel: Every leader has their guiding principles. What values or principles do you hold closest to your heart in decision-making, both professionally and personally?
Harsha V. Agarwal: There are a few guiding principles that are essential for us, both professionally and as a family. Firstly, every decision we make has to prioritize the greater good over individual interests. For example, in business, we don’t make choices solely to cut costs or boost profits. Instead, our decisions are driven by what’s best for the consumer.
In any consumer-facing business, it’s crucial to ask: What’s the right move for the consumer? Harsha V. Agarwal
In any consumer-facing business, it’s crucial to ask: What’s the right move for the consumer?Harsha V. Agarwal
Another principle we live by is keeping our commitments, whether in personal or professional contexts. If we give our word—whether formally or informally—we honour it. This level of integrity is non-negotiable for us, and we believe it’s essential to be fair and true to the people we work with.Pallavi Goel:How do you foster collaboration and innovation within the organization, especially with younger teams with different approaches and expectations?
Harsha V. Agarwal: It’s not always about age or experience—it’s about individual styles. People often say that new-age companies are fast-paced and agile, while traditional organizations may seem more structured. But even within a company, you’ll find both kinds of people.
In general, younger employees are often driven to prove themselves, while seasoned professionals might prioritize stability. That doesn’t mean senior employees lack ambition or innovation—they just approach things differently. In our organization, we maintain distinct structures for traditional teams and for the startup ventures we’ve invested in. Startups need the freedom to take more risks, whereas Emami, with its scale and reach, has to balance risk with accountability. We believe that allowing these acquired companies to operate independently supports their unique strengths and fosters growth.
Pallavi Goel:Emami has acquired multiple brands over the years. Beyond numbers, what makes you say “yes” to an acquisition?
Harsha V. Agarwal: For us, the numbers are secondary. In today’s market, it’s possible to “buy” numbers—meaning you can increase sales by absorbing losses, especially in e-commerce.
Real success isn’t just about numbers; it’s about sustainability.Harsha V. Agarwal
What matters most is the brand’s vision and positioning. We look for brands with unique, meaningful propositions and niche appeal. We want acquisitions that complement our existing portfolio in ways we couldn’t achieve alone. It’s about finding brands that connect with a specific audience or offer a distinct business model. We’re looking for brands that bring added value and meet the needs of new-age consumers in ways our existing brands don’t.
Pallavi Goel: What role does Emami plan to play in shaping the future of India’s retail and FMCG market?
Harsha V. Agarwal: I want Emami to be known as a leading Indian FMCG company recognized for the quality of its products. Quality is crucial for us, and we won’t compromise on that. Our products, many of which are based on natural ingredients, are built on a foundation of trust and transparency. Although we started with personal care and healthcare, we’re now expanding into other categories like pet care and nutrition. Ultimately, we want to offer high-quality, responsibly-made products across a wide range of categories. Our goal is to build lasting consumer relationships through trust and quality, making Emami a household name for integrity in Indian-grown FMCG.
Editor’s Note: With a consumer-centric mindset, commitment to authenticity, and a future-oriented vision, Emami’s leadership is not just focused on growth but on creating a legacy of integrity and quality. As it moves further into uncharted categories, Emami’s journey will be one to watch as it shapes the future of Indian retail and FMCG—one trusted product at a time.
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