- Parachute is a coconut oil-based haircare brand owned by Marico that has been operating since 1987. - It pioneered the switch from selling coconut oil in tins to plastic bottles and is now the market leader in India with a 53% market share. - Over the years, Parachute has expanded its product line beyond coconut oil to include hair oils, skin care products, and more for different audiences like babies, youth, and ayurvedic users. - The brand emphasizes purity and caring through its marketing strategies like celebrity endorsements and rural promotions to reach 18 million households annually.