IPO-bound Honasa says its growth will build on flagship Mamaearth

economictimes.indiatimes.com:

Honasa Consumer Ltd, which is set to launch its initial public offering (IPO) on October 31, will continue to have its flagship beauty and personal care brand Mamaearth at the core of its growth strategy, cofounder and chief innovation officer Ghazal Alagh said.

She said Mamaearth will focus on offline sales to fuel its next phase of growth, while other brands will retain their focus on online sales.

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Alagh was speaking to ET on the sidelines of the company’s press conference to announce the Rs 308-324 per share price band for its upcoming public issue.

At the upper end of the range, the issue size will be Rs 1,701 crore, valuing the company at Rs 10,425 crore ($1.25 billion).

“Every brand goes through a journey. For Mamaearth, which is now present online as well as offline, the focus there is to find the next set of consumers…reality is that 80% of the transactions within the beauty and personal care segment are still happening offline and hence, that's going to be the largest driver of growth for us,” she said.

Also read | Mamaearth parent says contribution of top 10 products to operating revenue decreasing

Honasa owns six brands--Mamaearth, The Derma Co, Bblunt, Ayuga, Aqualogica and Dr Sheth’s. Mamaearth is the flagship brand, garnering the highest revenue for the Gurugram-based company. For the June quarter, Mamaearth reported operating revenue of Rs 303.63 crore or 67.1% of the company’s