MPW 2022: Aiming to be largest beauty and personal care brand from India, for the world, say Mamaearth co-founders

Skincare company Mamaearth's IPO plans may have been put on hold, but its founders want the company to be the largest beauty and personal care FMCG brand from India, for the world.

While speaking at Business Today's Most Powerful Women (MPW) Awards 2022 event in Mumbai, Ghazal Alagh, co-founder, Mamaearth and Varun Alagh, co-founder and CEO, Mamaearth took the stage and shared the company’s vision going forward.

“Our visions are much more long range in nature. From my year perspective, we just want to thank you growing disruptively. Market is there for the taking. Indian consumers evolving. We want to make sure that we come across as a company which is not just Mamaearth but to provide all kinds of propositions. and hence all our other brands are doing also exceptionally well. But in the longer term, we would like to be the largest beauty and personal care FMCG from India, for the world. And that's what we are building for,” said Varun Alagh.

While the visions of the company’s founders are aligned, Gazal Alagh talked about her focus on innovation. “Mamaearth has been known for innovation and the kind of products the quality of products and the kind of innovations that we bring to the table. When you do that aggressively, it becomes slightly difficult to continue to do that at a disruptive level. My aim is to continue to do that for the next 5,10, 15 years. And that keeps me awake. Staying close to consumers, listening to them, innovating, looking at what they're looking for, what will add value… personally that's what I am going to be looking forward to.”

A popular household brand in the space dominated by the global FMCG companies, Mamaearth was founded by Ghazal Alagh and her husband Varun Alagh after struggling to find toxin-free baby products for their son. Initially focused solely on baby products, Mamaearth later expanded into skincare and haircare products after listening to the needs of millennial mothers who wanted toxin-free products for themselves as well.

This shift in focus helped the company enter the larger FMCG and beauty & personal care markets. Mamaearth now serves over 5 million customers in over 500 cities and became a unicorn with a valuation of $1.2 billion in 2022. Its parent company, Honasa Consumer, which also houses several other brands, had filed their Draft Red Herring Prospectus (DRHP) in 2022. While there are speculations that the IPO is on hold, the co-founders have recently informed that they are still awaiting to hear from SEBI on the DRHP.

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