Honasa Appoints Former Flipkart Executive Yatish Bhargava As CBO

Mamaearth parent Honasa Consumer has appointed Yatish Bhargava as its new chief business officer (CBO).

In an exchange filing, the company said that Bhargava has been appointed today and has also been designated a senior management personnel. 

Bhargava brings over 17 years of experience in consumer business, having worked in leadership roles at Flipkart and Hindustan Unilever. Before joining Honasa, he was the business head for home and furniture at Flipkart in Bengaluru, a role he held since January 2022. 

Prior to that, he worked at Hindustan Unilever for nearly 10 years in sales and customer marketing. Bhargava holds an MBA from IIM Lucknow. 

He will replace Zairus Master, who resigned from the role of CBO in January this year.

Notably, Honasa saw some disruptions to its business over the last few quarters as it transitioned to a new direct distribution model across top 50 cities under ‘Project Neev’.

In Q4 FY25, the company’s net profit fell 18% year-on-year to INR 25 Cr as margins took a hit, even though revenue from operations rose 13.3% to INR 533.6 Cr. 

At the time of disclosing its Q4 results, the company said it expanded AI adoption across functions, including AI-assisted shopping and social listening tools. Its offline expansion saw The Derma Co cross INR 100 Cr ARR. About 1.2 Lakh retail outlets were billed under Project Neev in Q4. This led to a jump in direct distribution contribution to 71% in Q4 from 38% in the year-ago quarter. 

What Is Project Neev?

Project Neev is Honasa’s internal restructuring initiative aimed at overhauling its general trade distribution system.

Launched in Q2 FY25, it aimed to simplify and modernise the company’s supply chain. Previously, Honasa relied on a multi-layered setup involving super stockists and smaller distributors. This old model often led to delays, inconsistent stock availability, and poor visibility across the network.

Under Project Neev, Honasa began phasing out super stockists and replacing underperforming distributors with stronger, tier-I partners. The goal was to move to a direct distribution model, particularly in India’s top 50 cities. 

While releasing its Q4 results, Honasa said it had almost completed the transition to the new distribution model. The company claims that the new model helps it with faster delivery, have better control over inventory, and improves service to retailers.

Founded in 2016 by Varun and Ghazal Alagh, Honasa is best known for its personal care brand Mamaearth. Its portfolio includes skincare, haircare, and babycare items, offered under brands like Mamaearth, The Derma Co., Aqualogica, and BBlunt. The company operates through both online and offline channels, using a mix of D2C platforms and retail distribution to reach consumers.

Shares of Honasa ended today’s trading session 1.77% lower at INR 304.50 on the BSE.