The natural ingredients based brand Mamaearth has made a special place in the market as people continue to choose it for its unique ingredient mix base.
Mamaearth is planning on doubling the revenue rate run of 500 cr after noticing that tier I and II are loving their self-care products.
Run by Honasa Consumer Pvt Ltd (HCPL), it is looking forward to bringing 200 people on board across various roles after noticing a significant growth momentum.
After analyzing the strong demand all over tier I and II and the metro cities, the brand has decided to go bigger and plans on doubling the annualized revenue run rate of Rs 500 cr soon.
“So, right now, we are about 300 people and by the end of this year, we’ll be at about 500 people. Of these, 100 people will be a part of the offline retail team and the others will be spread over other functions — growth team, D2C team, customer service, marketing team, and others,” Honasa Consumer Co-founder and CEO Varun Alagh told PTI.
He added that Mamaearth is 500 cr run rate strong which adds its names on the list of one of the fastest-growing personal care brands to reach its current milepost in less than 4 years of existence.
The ambitious Co-founder then spoke about how the company plans to touch the Rs 1,000 crore landmark. “The growth last year was 400 percent-plus…Rs 1,000 crores is our next milestone,” he said.
HCPL — which also owns The Derma Co brand — is backed by investors including, Stellaris Venture Partners, Fireside Ventures, Sequoia Capital India and Sharp Ventures.
Mr Alagh explained that the company has developed certain “playbooks” centric to its experience in marketing and distribution subsequent to Mamaearth’s launch. The brand will consider working with a “house of brands” strategy over the next few years.
As Mamaearth’s range of products focuses more on natural ingredients, the company has recently launched The Derma Co-brand that will focus on science-based products.
When asked about the company’s international plans, Mr Alagh said that the focus in the medium term is on scaling the Indian business with multiple brands servicing millennials while the company’s products are available in Bangladesh, the UAE, and Nepal.