Mamaearth ranks as India’s 3rd largest skincare brand: Euromonitor

D2C brand Mamaearth announced on Thursday that it has been ranked as the 3rd largest skincare brand in India, as per Euromonitor International.

The Gurugram-based company also rose to the 9th spot among India’s top beauty and personal care brands, up from 13th last year. The latest Euromonitor report highlights the growing impact of direct-to-consumer (D2C) brands, with Mamaearth, under Honasa Consumer Ltd., gaining considerable market share.

Honasa Consumer’s second brand, The Derma Co., has entered the top 20 skincare brands in India, emerging as the largest active-based skincare brand in the country. Varun Alagh, co-founder and CEO of Honasa Consumer, attributed this success to the company’s commitment to natural, toxin-free products and the trust of Indian consumers.

Honasa Consumer’s expanding portfolio now includes brands like Aqualogica, Dr. Sheth’s, and BBlunt, catering to the evolving needs of Indian consumers. Mamaearth, Honasa’s flagship brand, reported a 17.6% quarter-on-quarter revenue increase, reaching Rs 554 crore—its most profitable quarter to date, with a profit after tax (PAT) of Rs 40 crore. 

Last month, early investors divested shares worth Rs 1,600 crore ($190 million) in the company.