4 Sept 2023
Mamaearth was born out of love for the founder couple's first-born son who needed a completely natural and safe skincare products. Fueled by the drive to create value for investors got the skincare unicorn to turn profitable last year.
Ghazal and Varun Alagh, the first time parents, found the need for natural and toxins free skincare products for babies and created a brand. What fueled their drive was the love for the firstborn son, who was allergic to most products available in the market in India. They started Mamaearth as a homegrown brand, scaled up to watch it become a unicorn and now a soon-to-be listed company.
Honasa Consumer, the parent company, owns five other brands: BBlunt, Aqualogica, Dr Sheth’s, The Derma Co, Momspresso, and Ayuga. They filed a Draft Red Herring Prospectus with SEBI in December 2022 and received the nod to get listed in August 2023. Initially, there were rumours of ₹24,000 crores-valuation. The founders’ silence on the matter hurt their reputation on social media.
Still, creating value for investors and customers, taking feedback regularly, and their love for everything natural helped Mamaearth become profitable in FY22.