IPO-bound Honasa Consumer is ramping up efforts to expand the international market for its flagship brand, Mamaearth.
The beauty and personal care brand is partnering with local channels for its venture into Bangladesh, Malaysia, Vietnam, and Thailand.
In some overseas markets such as the UAE, Singapore, Nepal, Malaysia, Maldives and Mauritius, it currently operates either through modern trade and e-commerce platforms, or its brand website.
Recently, the company’s senior vice-president for offline and international business, Ashish Mishra, quit to join D2C personal care brand Clensta as co-founder and chief business officer.
Nishchay Bahl, a former chief business officer at The Good Glamm Group, was appointed as Honasa Consumer’s senior vice-president for offline sales.
Honasa Consumer operates brands such as The Derma Co and BBlunt. Recently, skincare brand The Derma Co crossed the Rs 350-crore mark during the June quarter of this year; Mamaearth had earlier achieved this milestone.
The company has received approval from the Securities and Exchange Board of India (SEBI) for its IPO. The IPO includes fresh shares worth Rs 400 crore, and an offer-for-sale (OFS) component for 46.82 million shares.
Founded by Varun and Ghazal Alagh, the company was last valued at $1.2 billion when it raised $52 million in January 2022 in a round led by Peak XV Partners.