Ghazal Alagh MamaEarth Story: The discussion about MamaEarth’s IPO has gained momentum. In 2022, Ghazal Alagh and Varun’s startup became a unicorn, and its revenue is now approaching nearly 1,000 crores annually.
MamaEarth is a well-known brand in India today. In just six years, MamaEarth’s parent company, Honasa Consumer Private Limited, became a unicorn. If toxin-free baby products were available in India, MamaEarth might not have been the foundation of a brand like this.
- Ghazal, along with her husband, started MamaEarth in 2016.
- Last year, in 2022, this startup achieved unicorn status.
- MamaEarth received approval from SEBI to launch its IPO in August 2023.
The co-founder of MamaEarth, Ghazal Alagh, had the idea of making toxin-free baby products when she couldn’t find toxin-free products for her son in the country and had to import them from abroad.
Ghazal, along with her husband Varun, started their startup in 2016 under the name Honasa Consumer Private Limited and introduced products to the market under the MamaEarth brand.
MamaEarth has become a significant brand today and preparing for IPO
Ghazal and Varun’s company, Honasa, now sell many products in the baby care, skincare, and beauty segments. In addition to MamaEarth, Honasa also owns brands like The Derma Co and BeBlunt.
SEBI approved Honasa to launch an IPO in August 2023, and the company is preparing to launch its IPO soon. Through this IPO, the company aims to raise 1,700 crores from the market.
Idea Born Out of Son’s Problem Ghazal Alagh’s son,
Agastya had skin problems from birth. Any product with toxins would harm his skin. Ghazal couldn’t find toxin-free baby products in India, and due to the lack of toxin-free products in India, Ghazal and Varun had to import toxin-free products from their foreign friends. Ghazal realized that many parents were struggling with the same problem, which led to the idea of starting MamaEarth.
Leaving the Job to Start the Startup in 2010,
Ghazal Alagh received a BCA degree in Information Technology from Punjab University. She also completed an intensive course at the New York University of Art.
She worked as a corporate trainer in the IT sector. Ghazal’s husband, Varun, had previously worked in companies like Hindustan Unilever and Infosys.
In 2016, when Ghazal and Varun decided to start MamaEarth, Varun was working as a Senior Brand Manager at Coca-Cola. Varun quit his job and joined Ghazal in the venture.
Achieved Unicorn Status in 2022
Honest Consumer became a unicorn in 2022. A startup is called a unicorn when its valuation exceeds 1 billion dollars, which is now equivalent to more than 8,300 crores in today’s terms. The company achieved this milestone by raising 5.2 crores with Sequoia Capital’s leadership.
Now, a Nearly 1,000 Crore Business
Honda Consumer’s revenue is now approaching nearly 1,000 crores. The company has its research lab where products are developed and tested.
They also undergo testing with the American agency Madesafe, and the company has formulated its products according to Madesafe’s guidelines.