Initial public offering (IPO)-bound Mamaearth’s Co-founder and CEO, Varun Alagh, recalled how the brand had a ‘board of mothers’ when they started the company. At an event in New Delhi on Friday, Alagh said, “Before (the) board of directors, we had (a) board of mothers…We would speak to several mothers to understand their needs for their children.”
Alagh said that they started out as a baby care brand and therefore they wanted to take in feedback and perspective of mothers to understand the gaps in this market better.
He added that they started out as a baby care brand and therefore they wanted to take in feedback and perspective of mothers to understand the gaps in this market better.
“Mothers have to sometimes wake up at 2 am at night to tend to their children…so who better than they would know what their child wants…” he noted.
Alagh also highlighted the importance of marketing. He said, “Marketing is very important…Koi apko jaanega nahi toh manega kaise?” (If the customers don’t know you, how will they trust you?)
He also said that marketing your products on the right platform is also paramount. He pointed out that in today’s time, hardly anyone watches TV because social media has taken over. “We started marketing our products on Instagram and similar platforms. You need to go where your consumer is consuming content the most.”
“Jaha wave jaa rahi hai consumers ki, waha jao…” he said and added that companies should also work on cracking the code to “convey their message in the right manner.”
Honasa Consumer Private Ltd, which owns Mamaearth and other brands like The Derma Co, BBlunt, Momspresso, etc., filed preliminary papers with the capital markets regulator Securities and Exchange Board of India in January this year to raise funds through an IPO. The IPO comprises a fresh issue of equity shares worth Rs 400 crore and an offer-for-sale (OFS) component of 4,68,19,635 equity shares by promoters, investors and other selling shareholders, according to the draft red herring prospectus (DRHP).
According to the DRHP, several investors will be exiting the company through the OFS, including angel investors like actor Shilpa Shetty, Snapdeal co-founders Kunal Bahl and Rohit Bansal and Rishabh Mariwala, a venture capitalist and son of Marico chairman Harsh Mariwala. VC firms like Fireside Ventures, Sofina, and Stellaris will also be exiting through the OFS.