Honasa Consumer eyes Rs 100 crore revenue run rate by 2022 for skincare brand The Derma Co
Honasa Consumer Pvt Ltd skincare business The Derma Co expects to achieve a revenue run rate of Rs 100 crore ($15 million) by March 2022.
“In scaling Mamaearth [The Derma Co's sister brand] over the last four years, we have been able to build playbooks and tools, and this gives us the confidence to diversify into creating newer brands to solve the prevailing millennial concerns,” Honasa Consumer co-founder and CEO Varun Alagh said in a press release.
"In fact, consumers today are warming up to specialised products and are looking for expert skincare solutions," said Alagh. "Hence, now is the right time to introduce such products and grow with the increasing demand. We already cater to a consumer base of half a million millennials across top metros, such as Delhi, Mumbai, Bangalore, Hyderabad and Chennai. With the recent expansion into the marketplace, we look to democratise clinical formulations and make it accessible to everyone.”
Honasa Consumer's millennial-focused brand The Derma Co currently retails products including acne solutions and products for pigmentation and plans to expand its product selection this year. Backed by businesses including Fireside Ventures and Sequoia Capital India, the business currently retails on a number of multi-brand e-commerce stores including Amazon, Nykaa, and Flipkart, and plans to expand in multi-brand brick-and-mortar stores across the country.
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