SUMMARY
Moreover, The Derma Co sold over 1 Cr units in the last financial year
Mamaearth co-founder Ghazal Alagh said this milestone demonstrates Honasa Consumer's capabilities in effectively building and scaling new brands
Launched in 2020, The Derma Co provides solutions for skin and hair conditions through a range of active ingredient-based products
The Derma Co, a skincare brand from mamaearth
’s parent company Honasa Consumer, clocked its annual revenue rate of INR 500 Cr.
Moreover, The Derma Co sold over 1 Cr units in the last financial year.
Mamaearth co-founder Ghazal Alagh took to Linkedln to share the new milestone: “Big day for Honasa Consumer Ltd.! Our 2nd brand, The Derma Co., enters the 500 crore ARR club. What fills our hearts with pride and gratitude is that we are the only FMCG company in India that has crafted two 500+ crore brands in the last 10 years.”
Alagh also added that this milestone demonstrates Honasa Consumer’s capabilities in effectively building and scaling new brands, delivering exceptional skincare solutions to consumers across India, and crafting brands with a unique proposition across evolving categories such as face serums, hydrating sunscreens, sunscreen sticks, and acne patches.
Furthermore, the focus on leveraging data for product innovation and responding swiftly to emerging trends continues to be a cornerstone of the strategy, the company said in a statement.
Founded in 2016 by the husband-wife duo of Varun and Ghazal Alagh, Honasa’s product portfolio comprises six beauty and personal care brands which include Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt and Dr. Sheth’s.
Launched in 2020, The Derma Co provides solutions for skin and hair conditions through a range of active ingredient-based products. The brand offers consumers an AI-enabled experience through real-time skin assessment analysis to help them detect skin conditions and identify specific products or regime for treatment.
“The Derma Co.’s remarkable achievement of INR 500 Cr annual run rate is a strong testament to our strategic brand-building approach at Honasa Consumer Limited. Our success is an output of in-depth consumer study of the evolving consumer demands and being able to innovate swiftly to deliver differentiated propositions to our consumers,” Varun Alagh, Co-Founder, Chairman & Chief Executive Officer of Honasa Consumer Limited, said.
Honasa Consumer Ltd posted a 264% increase in its consolidated net profit to INR 25.9 Cr in the quarter ended December 2023 from INR 7.1 Cr in the year-ago quarter.
However, profit declined sequentially from INR 29.4 Cr in the preceding September quarter.
Shares of Honasa listed at INR 324 on the BSE in November last year. The stock has gained over 30% from its listing price. On Monday, shares of Honasa were trading at INR 400.65 at 10:30 AM.
