The firm's revenue from operations rose 7 percent year-on-year (YoY) to Rs 595.3 crore in Q1, up from Rs 554 crore last year, and Rs 533.5 crore in the previous quarter.
According to Alagh, quick commerce continues to be the company's fastest growing distribution channel, and has been so for almost a year now
Master has stepped down at a time when Honasa's growth has hit a rough patch, after its flagship label Mamaearth reported slowing growth due to ongoing restructuring in its distribution model.
Alagh, who co-founded Honasa Consumer with his wife Ghazal Alagh, now together hold a 35 percent in the company.
The company is in for a long winter as revised business strategy may impact growth
Prime Minister Narendra Modi responded to Varun Alagh's story with encouraging words, 'Keep up the great work and continue to inspire others with your success, Varun!'
Union Minister Hardeep Singh Puri hosted a ‘Vishesh Sampark Abhiyan’ event at his residence on 20th May. Some of the nation's top IT professionals, innovators, startup leaders, and intellectuals were present at the event to discuss the country’s digital transformation and future potential under the leadership of Prime Minister Narendra Modi.
The founders from NCR felt that for Indian businesses serving Indian customers addressing Indian problems, it does not make sense to domicile outside of the country
Early investors, including Peak XV and Stellaris Venture Partners, told Moneycontrol that they are not exiting any time soon as they see huge potential and headroom for growth.
The entrepreneur and former Shark Tank India judge also revealed that he applied for Mamaearth IPO 'quietly and handsomely'.
Mamaearth’s current valuation of Rs 10,423 crore (around $1.25 billion) is unchanged from what it commanded during its fundraise in January 2022.
Mamaearth co-founder Ghazal Alagh explained that it is the founder's responsibility to design the principles that the company will operate on for years.
"Reports of withdrawal of Mamaearth IPO are baseless. We are still in the IPO process, engaging with the regulators and bankers. We should get approval on IPO prospectus by next month,” Alagh has told CNBC-TV18
"Valuation discovery is a process which will take place over time as we get into deeper conversations with investor community," Mamaearth founders Varun and Ghazal Alagh stated.
The net proceeds of the IPO will be used for advertisement expenses to improve brand visibility and awareness, setting up new exclusive brand outlets, investment in BBlunt for setting up new salons, general corporate purposes and inorganic growth
Alagh prefers non-fiction books because he thinks it makes him a better person and teaches him more about building a company. Ben Horowitz's The Hard Thing About Hard Things taught him a key hiring lesson