Beauty and personal care house of brands Honasa Consumer Pvt. Ltd has recently unveiled a multi-brand outlet (MBO) in Bengaluru, as stated by a mall official on social media on Tuesday. The outlet is located on the upper ground floor of Mantri Square Mall, Malleshwaram.
“Happy to announce the arrival of the first store of Honasa Consumer at Mantri Square Mall. The first offline store of Honasa Beauty brings together beauty and personal care infused with technology and a commitment to customer satisfaction,” said Kamakshi Mantri, chief strategy officer at Mantri Developers Pvt. Ltd. in a LinkedIn post.
While Mantri claims this store to be the brand’s first MBO in the country, Snackfax had reported Honasa opening an MBO at Seasons Mall, Pune in January, making this the company’s second MBO in the country and first in Bengaluru.
Continue Exploring: Honasa Consumer opens first pan-India multi-brand store in Pune
The store showcases a range of beauty and personal care brands, which include Mamaearth, Aqualogica, The Derma Co, Ayuga, Dr. Sheth’s, and the hair care brand BBlunt.
Established in 2016 by Varun Alagh and Ghazal Alagh, Honasa Consumer adopted a digital-first approach. The company introduced Mamaearth, a toxin-free baby care brand, as its flagship product. Subsequently, the brand diversified its offerings to include beauty and personal care products for adults.
In 2020, The Derma Co became a part of the company, followed by the introductions of Aqualogica and Ayug in 2021. The acquisitions of BBlunt and Dr. Sheth’s occurred in 2022, coinciding with the parent company’s achievement of an annual revenue milestone of INR 1,000 crores in the same year.
During the third quarter (Q3) of the financial year (FY) 2024, the company demonstrated robust performance, exhibiting a revenue growth of 28% and a remarkable year-on-year profit after tax (PAT) surge of 264% to INR 26 crore.
Continue Exploring: Mamaearth parent Honasa Consumer sees 250% YoY surge in net profit to INR 26.1 Crore in Q3FY24