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The Indian tobacco company is one of India''s most valuable and respected companies, which has emerged into a conglomerate by venturing into segments like: (1) hotels; (2) paperboards and specialty papers; (3) packaging; (4) agri-business; (5) packaged foods and confectionery; (6) information technology; (7) branded apparel; (8) personal care; (9) stationery; (10) safety matches; and (11) other fast moving consumer goods (FMCG) as well as retaining its traditional tobacco business. It is constantly looking for diversification in various segments, so as to become a non-tobacco major, as the cigarettes industry is faced with a high incidence of taxation and other corporate social responsibilities. ITC became one of the FMCG majors with its diversification into the food business. In line with its diversification strategy, ITC expanded its personal care segment in 2008 with the launch of new soaps, shampoos, and shower gels under the brand names of Fiama Di Wills, Vivel Di Wills, Vivel and Superia. This case study gives a glimpse of ITC''s diversified status and its growth as a conglomerate. The diversification strategy followed for its food business is also analysed in the case. Furthermore, the case identifies the prospects and challenges for ITC''s extension of its product range in the personal care business. The case study helps students to understand and analyse: (1) ITC''s diversification strategy of their product portfolio and its impact on ITC''s profits; (2) ITC''s strategies for its successful diversification in the food business; (3) ITC''s initiatives in expanding its personal care products; and (4) the prospects and challenges for its personal care products.