Mamaearth’s parent Honasa Consumer realigns focus amid rising competition

In recent quarters, intensifying competition in the beauty and personal care (BPC) market has led Honasa Consumer, the parent company of Mamaearth, to rethink its category strategy and emphasise the need for a focussed approach, the founders said in the annual report for financial year 2025.

“As an organisation, it has helped us understand that we need to win the war of BPC domination, one category battle at a time. This focussed approach will allow us to allocate R&D resources and marketing investments more effectively towards these categories as well as fully utilise the power of the house of brands,” they said.

Mamaearth is the biggest brand in Honasa Consumer’s portfolio, which also has brands such as The Derma Co, Aqualogica, Dr Sheth’s, Bblunt, and Staze Beauty. According to the company, the brand Mamaearth has become the fastest to reach Rs 1,000 crore in revenue. Its second-largest brand, The Derma Co, crossed Rs 500 crore in revenue in FY25 while maintaining profitability.


The company reported a 7% year-on-year (YoY) increase in operating revenue to Rs 595 crore for the quarter ended June, driven by growth in focus categories as well as optimised operations and scale across brands. Its net profit stood at Rs 41 crore, up slightly from Rs 40 crore a year ago.

According to the company, its focus categories, which include face wash, shampoo, sunscreen, moisturiser, and baby care, now contribute about 80% of its revenues across online and offline channels, growing in double digits this quarter.

Competition in the space has been heating up, with a wave of new-age brands entering the market and raising significant capital, intensifying the race for market share.

Last month, personal care brand Kimirica raised $15 million in a funding round led by Carnelian Asset Management. In April, Innovist, the parent company of consumer brands such as Bare Anatomy and Chemist at Play, raised Rs 136 crore in a funding round led by ICICI Venture.

Personal care brand Pilgrim raised Rs 200 crore through a mix of primary and secondary funding rounds in March. The round saw participation from existing investors Narotam Sekhsaria Family Office (NSFO), Vertex Ventures Southeast Asia & India, Sattva Family Office, and Mirabilis Investment Trust, along with new investors Vertex Growth Fund and Anicut Equity Continuum Fund.

Similarly, Mumbai-based skincare brand Foxtale raised $30 million in January in a round led by Japanese beauty products company Kose Corporation. Prior to this, it had closed an $18 million round in June 2024.

Industry experts feel that several Rs 400-500 crore beauty brands will emerge in India, even as large players such as Nykaa, Myntra, Reliance’s Ajio and Tira ramp up their presence in the beauty sector, ET reported earlier.