Honasa Consumer, which owns beauty brands such as Mamaearth and BBlunt, is looking to expand into newer product categories such as laser masks, face massagers, facial rollers and LED light therapy devices, people aware of the company’s plan said.
This comes at a time when sales of Honasa's flagship Mamaearth brand have slowed, prompting the parent company to recalibrate its focus, one of the people cited earlier told ET. “The company is looking at trying out multiple new things as it chases the next level of growth,” the person said.
“Mamaearth is growing at its own pace and much of it will come from offline markets," the person said. "In the online space as well, for certain categories like face washes and sunscreens, Honasa is investing in the growth of The Derma Co and Dr Sheth’s, given that Mamaearth proposition is being fine-tuned.”
Honasa did not respond to ET’s query.
In FY25, Honasa reported an operating revenue of Rs 2,067 crore, up 8% from the previous year, while its net profit dropped to Rs 73 crore from Rs 111 crore, mainly due to the impact of its offline distribution restructuring exercise.
Honasa’s brands include Mamaearth, The Derma Co, Dr Sheth’s, Aqualogica, BBlunt and Staze. Staze is Honasa’s youngest brand—was launched last year--and operates in the colour cosmetics space.
In a post-earnings analysts call on May 22, Honasa’s founder and CEO, Varun Alagh, had said the company’s younger brands drove the growth momentum for FY25, having grown at over 30% year-on-year.
“There are new categories and portfolios that each of the brands are building, and we are focusing on making sure that they win and build in these portfolios, both from product superiority and right consumer insight,” he said.
The beauty electronics market is crowded with local and foreign brands, with those operating for specific use-cases such as Korean beauty, haircare and skin care. Companies such as Panasonic, Phillips, Numour and House of Beauty operate in this space.
The number of electronic device brands in India selling products such as hair stylers, straighteners, dryers and shavers online rose to 571 in 2024 from 399 in 2022, according to market research firm NielsenIQ, which ET had reported in January. In comparison, there were only 154 brands selling their products in physical stores.
According to market research firm IMARC, the Indian market for beauty devices reached $1.8 billion in 2024 and is expected to grow to $6.8 billion by 2033, clocking a compound annual growth rate of 15.8% between 2025 and 2033.
“India’s beauty devices market is fuelled by growing disposable incomes, increasing awareness about personal grooming, and rising preference for in-home beauty treatments. Furthermore, technology advancements, social media influence, and the need for convenience, affordability and multi-functional devices are also propelling the India beauty devices market growth,” a report by IMARC noted.
This comes at a time when sales of Honasa's flagship Mamaearth brand have slowed, prompting the parent company to recalibrate its focus, one of the people cited earlier told ET. “The company is looking at trying out multiple new things as it chases the next level of growth,” the person said.
“Mamaearth is growing at its own pace and much of it will come from offline markets," the person said. "In the online space as well, for certain categories like face washes and sunscreens, Honasa is investing in the growth of The Derma Co and Dr Sheth’s, given that Mamaearth proposition is being fine-tuned.”
Honasa did not respond to ET’s query.
In FY25, Honasa reported an operating revenue of Rs 2,067 crore, up 8% from the previous year, while its net profit dropped to Rs 73 crore from Rs 111 crore, mainly due to the impact of its offline distribution restructuring exercise.
Honasa’s brands include Mamaearth, The Derma Co, Dr Sheth’s, Aqualogica, BBlunt and Staze. Staze is Honasa’s youngest brand—was launched last year--and operates in the colour cosmetics space.
In a post-earnings analysts call on May 22, Honasa’s founder and CEO, Varun Alagh, had said the company’s younger brands drove the growth momentum for FY25, having grown at over 30% year-on-year.
“There are new categories and portfolios that each of the brands are building, and we are focusing on making sure that they win and build in these portfolios, both from product superiority and right consumer insight,” he said.
The beauty electronics market is crowded with local and foreign brands, with those operating for specific use-cases such as Korean beauty, haircare and skin care. Companies such as Panasonic, Phillips, Numour and House of Beauty operate in this space.
The number of electronic device brands in India selling products such as hair stylers, straighteners, dryers and shavers online rose to 571 in 2024 from 399 in 2022, according to market research firm NielsenIQ, which ET had reported in January. In comparison, there were only 154 brands selling their products in physical stores.
According to market research firm IMARC, the Indian market for beauty devices reached $1.8 billion in 2024 and is expected to grow to $6.8 billion by 2033, clocking a compound annual growth rate of 15.8% between 2025 and 2033.
“India’s beauty devices market is fuelled by growing disposable incomes, increasing awareness about personal grooming, and rising preference for in-home beauty treatments. Furthermore, technology advancements, social media influence, and the need for convenience, affordability and multi-functional devices are also propelling the India beauty devices market growth,” a report by IMARC noted.
