IPO-bound Honasa Consumer’s subsidiary, The Derma Co, is celebrating a significant achievement. In just 41 months since its inception, the company has successfully crossed the milestone of generating a monthly revenue exceeding INR 30 crore. This remarkable feat translates into an annual recurring revenue of more than INR 350 crore.
The skincare brand supported by active ingredients, with a monthly sales figure of INR 30 crore, has outperformed Mamaearth, another brand under the Honasa umbrella.
“Being the second brand (The Derma Co) from our house, we deployed the playbooks that were created from our learnings from Mamaearth’s journey. Through the incubation and scale up phase, we realized that we have established repeatable playbooks that helped us reach milestones faster than Mamaearth,” said Varun Alagh, Co-Founder, Chairman & Chief Executive Officer, Honasa Consumer Limited.
Alagh expressed that this achievement by The Derma Co. serves as a strong validation of their strategies, reaffirming their confidence in their playbooks. Honasa intends to leverage these insights and apply them to the entire portfolio of brands within the parent company.
Honasa Consumer is gearing up to generate INR 400 crore through an initial public offering, with the primary intent of deploying the proceeds towards expanding its offline presence, introducing new brands to the market, and pursuing strategic acquisitions.
Alagh had previously informed PTI that Honasa’s primary objective is to enhance the brand’s reach by expanding its distribution network and increasing awareness of its flagship brand, Mamaearth. Moreover, the company has ambitious plans to elevate the performance of other successful brands such as The Derma Co, Aqualogica, and Ayuga, all of which are consistently achieving higher monthly sales.
According to Alagh, Mamaearth, a brand under Honasa, achieved the remarkable feat of becoming a INR 1,000 crore brand in India’s direct-to-consumer (D2C) industry at an astonishing pace.
