Mamaearth, a direct to consumer (D2C) brand, announced it is now the 3rd largest skincare brand in India, according to Euromonitor International on Thursday, October 17.
Gurgaon-based Mamaearth, under parent company Honasa Consumer Ltd rose to the 9th spot among India’s top beauty and personal care brands from a position of 13 last year. Euromonitor’s latest report shows how D2C brands are rising in a spree: key highlights of this trend include market shares garnered by Mamaearth.
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Honasa Consumer’s The Derma Co. among top 20 skincare brands
Meanwhile, Honasa Consumer’s second brand, The Derma Co., is now among the top 20 skincare brands in India and is the largest active-based skincare brand in the country. Varun Alagh, co-founder and CEO of Honasa Consumer, credits this success to their natural, toxin-free products and the trust of Indian consumers.
He further said, “We are committed to building on this success across all Honasa brands and lead the next phase of the beauty and personal care space in the Indian market.”
Mamaearth reports 17.6% revenue surge in latest quarter
Additionally, Honasa Consumer’s expanding range now includes Aqualogica, Dr. Sheth’s, and BBlunt, meeting the changing needs of Indian consumers. Mamaearth, Honasa’s main brand, reported a 17.6% quarterly revenue increase, reaching INR 554 crore-its most profitable quarter yet, with a profit after tax of INR 40 crore.
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Recently, Jayant Chauhan, the Chief Product and Technology Officer of Mamaearth‘s parent company, Honasa Consumer, has stepped down from his role, according to a stock exchange filing by the company.
Jayant mentioned in his resignation letter to Honasa Consumer’s founder and CEO, Varun Alagh, “Due to personal reasons, I would like to tender my resignation from the post of chief product and technology officer of the company. My last working day with the organisation would be 30th November 2024.”
Furthermore, in September, early investors sold shares worth Rs 1,600 crore ($190 million) in the company.
