Honasa Consumer Ltd on Thursday said its brand Mamaearth has secured “the 3rd spot among the top skincare brands in India”, attributing this to a report by Euromonitor International.
“Mamaearth has also climbed to ninth position from 13th last year among the top beauty and personal care brands in India, as per Euromonitor’s latest report on Beauty and Personal Care in India. The CY2023 report on beauty and personal care in India highlights the rise of direct-to-consumer (D2C) brands in India’s beauty and personal care sector, with home-grown brands like Mamaearth, under Honasa Consumer Ltd., gaining significant market share,” it said in a BSE filing.
In a statement, Varun Alagh, Co-founder and CEO, Honasa Consumer, said, “We’re thrilled to see Mamaearth making such a significant mark in the Indian beauty and personal care market. This recognition is a testament to our team’s hard work, our commitment to creating natural, toxin-free products for Indian consumers, and the trust they have placed in us. We’re equally proud of The Derma Co.’s progress and glad that Indians are recognizing its value proposition. We are committed to building on this success across all Honasa brand and lead the next phase of the beauty and personal care space in the Indian market.”