Mamaearth-owner Honasa Consumer's CBO Zairus Master quits
Zairus Master joined Honasa Consumer in August 2021 as Chief Business Officer. He has earlier worked at Hindustan Unilever, Airtel and Nokia.
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Honasa Consumer's Chief Business Officer Zairus Master has resigned. He has tendered his resignation with effect from closure of business hours on February 28, 2025 due to personal reasons.
Master, who joined Honasa Consumer in August 2021, has earlier worked at Hindustan Unilever, Airtel and Nokia. He joined the company from job-listing portal Shine, where he was CEO. At Honasa, Master was responsible for lower funnel management to capture demand & translate to revenue, leading the evolution of an omni channel multi brand organisation to drive profitable growth by gaining shares across categories in Beauty & Personal Care. He was also mandated with creation of a business plan through investment allocation choices across categories, brands, and channels to optimise for growth and profitability.
Founder Varun Alagh had recently raised his stake in Honasa Consumer to 31.93% following a Rs 4.5 crore investment. This move, disclosed in filings with the National Stock Exchange (NSE), came after a significant shift in the company’s ownership structure.
Together, Varun and Ghazal Alagh, co-founders of Honasa Consumer, the parent company of popular brands like Mamaearth and The Derma Co, now hold a combined 35% stake in Honasa Consumer, a substantial share in the startup ecosystem, where founders often see their equity diluted over multiple funding rounds.
Honasa Consumer reported a loss of Rs 19 crore in its Q2 FY25 results, reflecting ongoing business transitions. However, the decision to increase their stake underscores the Alaghs’ long-term vision for the company. In its Q2 FY25 results, the company reported a net loss of Rs 18.6 crore for the quarter ending September 30, 2024, an improvement compared to the Rs 29.4 crore loss in the same period last year. Revenue from operations fell 6.9% to Rs 461.8 crore, down from Rs 496 crore in Q2 FY24. The company’s EBITDA loss also decreased to Rs 30.7 crore from Rs 40.1 crore in the previous year.
