On April 22, 2024, Honasa Consumer Limited informed in an exchange filing that the company’s brand, The Derma Co., achieved an annual revenue rate of ₹500 crore.
The Derma Co., an active ingredient-backed skincare brand, has announced this significant milestone, which highlights Honasa Consumers’ abilities to craft and scale new brands with strategic innovations, delivering exceptional skincare solutions to people across India.
Honasa Consumer, known for its prominent brand Mamaearth, has, yet again, proved the strength of its on-trend, data-based innovation strategy, taking The Derma Co. to achieve this milestone. The focus on strengthening data for product innovation and responding quickly to emerging trends in the market persists as a key part of the strategy. The company has created brands with expert product portfolios, with differentiated propositions across various categories like hydrating sunscreens, face serums, acne patches, and sunscreen sticks, and tailored them for Indian skin and weather, and ultimately has sold more than 1 crore units in FY 2024.
The Derma Co. is designed by dermatologists. This skincare brand has been at the forefront of bringing active ingredient-based skincare products to the Indian market. The brand caters to a wide range of skin concerns, such as acne, skin dullness, pigmentation, sun care, etc. The company stated that on the leading e-commerce platforms, the Derma Co. has always been ranked among the top 3 bestsellers.
Speaking of this milestone, the Co-Founder, Chairman and Chief Executive Officer of Honasa Consumer Limited, Varun Alagh, said, “The Derma Co.’s remarkable achievement of ₹500 crore annual run rate is a strong testament to our strategic brand-building approach at Honasa Consumer Limited. Our success is an output of in-depth consumer study of the evolving consumer demands and being able to innovate swiftly to deliver differentiated propositions to our consumers.”
He further added, “This focus on excellence has helped us set new benchmarks across the active ingredient-based skincare segment. At Honasa, we are committed to continue our quest towards fueling our innovations and offering brands that serve the evolving consumer demands.”
Honasa Consumer Limited is the largest digital-first beauty and personal care company with a diverse portfolio of seven brands, which include Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt, Dr Sheth’s and BBLUNT Salons.
On April 22, 2024, the share price of Honasa Consumer Limited opened at ₹400.00, touching the day’s high at ₹404.00, as of 12:01 PM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Apr 22, 2024, 3:45 PM IST
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