The Derma Co, a skincare brand under the umbrella of Honasa Consumer, the parent company of Mamaearth, reached an annual revenue rate of INR 500 Cr.
Furthermore, The Derma Co achieved sales of over 10 million units in the previous fiscal year.
Mamaearth co-founder Ghazal Alagh announced on LinkedIn the latest milestone: “Exciting news for Honasa Consumer Ltd.! Our second brand, The Derma Co., has joined the 500 crore ARR club. What truly fills us with pride and gratitude is being the sole FMCG company in India to have nurtured two 500+ crore brands within the past decade.”
Alagh further emphasized that this achievement underscores Honasa Consumer’s proficiency in adeptly developing and expanding new brands, providing outstanding skincare solutions to consumers nationwide, and establishing brands with distinctive offerings across dynamic categories like face serums, moisturizing sunscreens, sunscreen sticks, and acne patches.
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Additionally, the company emphasized that its strategy remains centered around utilizing data for product innovation and promptly adapting to emerging trends.
Established in 2016 by Varun and Ghazal Alagh, Honasa boasts a product lineup featuring six beauty and personal care brands: Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt, and Dr. Sheth’s.
Launched in 2020, The Derma Co offers a variety of products formulated with active ingredients to address skin and hair issues. The brand provides consumers with an AI-powered experience, allowing them to receive real-time skin assessments to identify conditions and determine the most suitable products or routines for treatment.
“The Derma Co.’s impressive achievement of reaching an annual run rate of INR 500 Cr is a clear validation of our strategic brand-building approach at Honasa Consumer Limited. Our success stems from a thorough understanding of evolving consumer demands and our ability to innovate quickly to provide unique offerings to our customers,” stated Varun Alagh, Co-Founder, Chairman, and Chief Executive Officer of Honasa Consumer Limited.
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In the quarter that ended in December 2023, Honasa Consumer Ltd posted a 264% increase in its consolidated net profit to INR 25.9 Cr, up from INR 7.1 Cr in the year-ago quarter.
Nevertheless, there was a sequential decline in profit from INR 29.4 Cr in the previous September quarter.
In November last year, Honasa’s shares were listed on the BSE at INR 324. Since then, the stock has surged by over 30% from its initial listing price. As of 10:30 AM on Monday, shares of Honasa were trading at INR 400.65.
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