BBLUNT, a luxury cosmetics brand from Godrej Consumer Products, has been acquired by Mamaearth
- ByStartupStory | February 15, 2022
Godrej Consumer Products Limited has sold BBlunt to Mamaearth, a direct-to-consumer (D2C) firm located in Mumbai (GCPL). The agreement comes as the continuing epidemic has taken a toll on salon operations.
According to the terms of the agreement, Mamaearth parent Honasa Consumer will own and manage BBlunt’s hair care and styling products business, while the two-decade-old salon company will continue to operate independently. Adhuna Bhabani, Osh Bhabani, and Avan Contractor will be creative directors, and Spoorthy Shetty will be CEO, all from the original team.
According to Mamaearth, the industry for hair color and hairstyling is presently valued at over Rs 6,000 crore.
Alagh intends to increase his marketing of BBlunt products in the future, with an emphasis on millennials. He said that BBlunt made roughly Rs 50 crore in income in FY21 and that the existing annualised revenue run-rate is markedly higher.
Mamaearth is spreading outside of India as well. Starting with the United Arab Emirates, the corporation has entered the Gulf Cooperation Council (GCC) area. In addition, it has lately entered Nepal, where the brand has garnered a positive response. Bangladesh and Sri Lanka are their next destinations.
The firm has a revenue of roughly Rs 460 crore for the fiscal year ended March 2021. Despite this, the firm asserts that it expects to end the current fiscal year with at least twice the amount of revenue.
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