i. Mamaearth is the largest digital-first beauty and personal care (“BPC”) company in India in terms of revenue from operations for the Financial Year 2022. Since its inception, they have worked with the primary objective of developing products that address beauty and personal care problems faced by consumers. For instance, their flagship brand, Mamaearth, is built to service a core customer need for safe-to-use, natural products, and focuses on developing toxin-free beauty products made with natural ingredients. Mamaearth has emerged as the fastest-growing BPC brand in India to reach an annual revenue of ₹10 billion (in the preceding 12 months) within six years of launch.

ii. Since launching Mamaearth in 2016, the company has added five new brands to its portfolio, namely The Derma Co., Aqualogica, Ayuga, BBlunt and Dr. Sheth’s, and have built a ‘House of Brands’ architecture. As of September 30, 2022, the portfolio of brands with differentiated value propositions includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.

iii. The graphic below provides a brief overview of the brands:

iv. Additionally, the company continuously seek to connect better with its consumers and strengthen its brand equity by building ‘purposedriven’ brands that are associated with environmental and social impact causes. For instance, through the Mamaearth ‘Plant Goodness’ initiative, they work with a non-government organisation to plant trees for orders placed on its direct-to-consumer (“DTC”) platform and share geo-tagged images of these trees with the consumers. Similarly, The Derma Co. is associated with a ‘Young Scientists’ program wherein children in certain rural parts of India are provided with access to education in science, and Aqualogica is associated with a ‘Fresh Water for All’ initiative wherein they help enable access to clean drinking water for marginalized communities.

v. They make their products available to their customers through omni-channel distribution networks across both online and offline touchpoints. They strategically leverage its presence on online channels (both DTC platforms and e-commerce marketplaces) during the early stages of a brand or products lifecycle to generate trials amongst early adopters, engage with consumers directly and test for product market fit. Once a product or brand reaches a mature stage, they selectively introduce such products and brands in offline stores to drive penetration amongst a larger consumer base.

vi. Their sharp focus on the BPC category coupled with the strengths in brand building, innovation, distribution, and marketing have positioned us well and enabled us to establish a strong presence in the Indian BPC market.

vii. Competitive Strengths
i. Brand building capabilities and repeatable playbooks
ii. Consumer-centric product innovation
iii. Digital-first omnichannel distribution
iv.Data-driven contextualized marketing