Mamaearth claims to have generated a profit after reaching a revenue of nearly 500 crore last year

• 79
• 0

Varun Alagh, the company's co-founder and CEO, told Business Insider that the direct-to-consumer (D2C) personal care business Mamaearth has turned profitable in the financial year 2021.

Mamaearth became a unicorn last week after raising $52 million at a valuation of $1.2 billion through its parent firm Honasa Consumer Private Limited. In startup jargon, a unicorn is a company worth one billion dollars or more.

Mamaearth's income nearly quadrupled to 480 crores in the previous financial year, according to Varun (FY20). Mamaearth reached $300 million in sales two to three months before the end of FY2021, according to Kanwaljit Singh of Fireside Ventures, one of the company's investors.

Varun now expects to end March 2022 with double the revenue — around 960 crore by focusing on inorganic growth, launching more brands, and increasing distribution. While the number may seem large, Mamaearth's track record suggests that it is not an overly ambitious goal.

Mamaearth is a direct-to-consumer (D2C) brand founded by Varun and Ghazal Alagh that sells over 80 beauty and personal care items across India via online and offline channels. Mamaearth's CEO Varun told Business Insider that the company will soon begin testing its goods in the Middle East (Gulf Cooperation Council) and South Asia.