Varun Alagh and Ghazal Alagh founded Mamaearth, but the Mamaearth CEO says that their purpose of setting up the D2C brand in India is much more than just earning revenue.
The company started in 2016 as online baby care but has eventually scaled up by including many other categories like hair care and skin care, among a few more in its portfolio. Mamaearth co-founder has spearheaded the brand into entering the unicorn club in 2022 with a $52 million fundraiser. The company’s value now stands at a value of $1.2 billion.
Varun Alagh Mamaearth
The parent company of Mamaearth is Honasa Consumer. It is a plastic-positive brand and has been recycling twice the amount of plastic. Every day it plants a sapling for every order it receives. Mamaearth is planning to provide potable water to the villages.
In comparison to the revenue recorded way back in FY17, when it was INR22.19 lakh, in FY20, it was INR 112 crore. As of FY21, the sales crossed the INR500 crore mark. The D2C brand aims to achieve INR 1000 crore in the current fiscal year.
Varun Alagh says that the company has surged ahead after introducing the additional skincare and haircare categories. Factors that have helped the company’s growth include aggressive advertising and marketing, apart from product diversification. Earlier, the focus was mainly on the metros, but over the years, the Tier II cities have also become the target audience.
Another factor that has helped the brand expand is that they have made a commendable presence across many retail formats.
Aqualogica is the third brand of Mamaearth that Honasa Consumer has introduced. Aqualogica is a skincare brand highlighting that oily skin care solutions are unsuitable for Indian skin. The spokesperson said that the brand approaches the concept from the point of view of hydration.
Experts in the industry have said that the best thing about Varun Alagh is that he has steered the company to think beyond the traditional offerings and outlook. Instead, the approach is more of a tech-first perspective. Interestingly, earlier, no such company has taken the concept of tech-first ideology.
Varun Alagh has said that the company will always strive to adhere to the purpose-driven mission.