Honasa Consumer Ltd., the parent company behind well-known brands like Mamaearth and The Derma Co., revealed on January 2 that its Chief Business Officer, Master Zairus, will step down from his position on February 28, 2025.
The Company is Going Through Significant Restructuring
The announcement was made through a regulatory filing, which noted that Zairus is leaving for personal reasons. This comes at a time when the company is going through significant restructuring that has impacted its finances and distribution model.
Continue Exploring: Log9 Co-founder Kartik Hajela Moves to Jupiter Electric Mobility in Key Role
Zairus, who joined the company in August 2021, has had an extensive career with leadership roles at Airtel, Nokia, and Shine.com, including serving as CEO. Like CEO Varun Alagh, he began his professional journey at Hindustan Unilever. At Honasa, Zairus played a key role in shaping investment strategies across its diverse brand portfolio, which includes Mamaearth, The Derma Co., Aqualogica, BBlunt, Dr Sheth’s, and Staze. The company also made the decision to discontinue its Ayurvedic beauty line, Ayuga, in the first quarter of FY25.
Continue Exploring: Zepto’s New Marketplace Entity Could Signal a Shift in Quick-Commerce Strategy
In its most recent financial update, Honasa Consumer reported a net loss of Rs 18.6 crore for the quarter ending September 30, 2024, an improvement from the Rs 29.4 crore loss in the same period the previous year. Revenue from operations dipped by 6.9% year-on-year to Rs 461.8 crore, while the company’s EBITDA loss for the second quarter stood at Rs 30.7 crore, better than the Rs 40.1 crore loss in the same period the previous year.
Despite the overall revenue drop, several of Honasa’s newer brands, including The Derma Co., Aqualogica, BBlunt, and Dr Sheth’s, saw more than 30% growth year-to-date. Key product categories such as face washes, sunscreens, and face serums also reported over 28% growth in the first half of the fiscal year.
