Furthermore, The Derma Co sold over 1 crore units in the last financial year. Ghazal Alagh, co-founder of Mamaearth, stated that this milestone highlights Honasa Consumer’s ability to efficiently establish and scale new businesses. The Derma Co, which launched in 2020, offers a variety of active ingredient-based treatments to treat skin and hair issues.
The Derma Co, a skincare brand owned by mamaearth’s parent company Honasa Consumer, generated an annual sales of INR 500 crore.
Furthermore, the Derma Co sold over 1 crore units in the previous fiscal year.
“A big day for Honasa Consumer Ltd.! Our second brand, The Derma Co., joins the 500 crore ARR club. What fills our hearts with pride and thankfulness is that we are the only FMCG firm in India to have created two 500+ crore brands in the last decade.”
Alagh also stated that this milestone demonstrates Honasa Consumer’s ability to effectively build and scale new brands, provide exceptional skincare solutions to consumers across India, and create brands with a distinct proposition in evolving categories such as face serums, hydrating sunscreens, sunscreen sticks, and acne patches.
Furthermore, the company stated that the emphasis on harnessing data for product innovation and responding quickly to emerging trends remains a key component of the strategy.
Honasa, founded in 2016 by husband-wife combo Varun and Ghazal Alagh, has six beauty and personal care businesses, including Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt, and Dr. Sheth’s.
The Derma Co, which launched in 2020, offers products based on active ingredients to treat skin and hair issues. The brand provides consumers with an AI-enabled experience that includes real-time skin assessment analysis to assist them in discovering skin issues and identifying appropriate products or treatment regimens.
“The Derma Co.’s amazing performance of INR 500 crore yearly run rate demonstrates Honasa Consumer Limited’s strategic brand-building approach.
Our success is an outcome of an in-depth consumer study of the developing consumer wants and the ability to adapt quickly to give differentiated solutions to our consumers.” Varun Alagh, Co-Founder, Chairman, and CEO of Honasa Consumer Limited, stated.
Honasa Consumer Ltd increased their overall net profit by 264% to INR 25.9 crore in the quarter ended December 2023, up from INR 7.1 crore in the previous year.
However, profit fell sequentially from INR 29.4 crore in the previous September quarter.
Honasa’s shares were floated on the BSE in November of last year for INR 324. The stock has increased in value by more than 30% since its initial offering. At 10:30 a.m. on Monday, Honasa shares were trading at INR 400.65 each.
