Mamaearth targets US$3 billion valuation for 2023 IPO

Mamaearth targets US$3 billion valuation for 2023 IPO

THE WHAT? Indian skin care start-up, Mamaearth is hoping to raise some US$300 million via a planned IPO in 2023 and is seeking a valuation on flotation of US$3 billion, according to a report published by The Business Standard.

THE DETAILS The company’s value was pegged at US$1.2 billion during a funding round at the start of this year. A spokesperson for Mamaearth declined to comment on the planned IPO when contacted by The Business Standard.

THE WHY? Mamaearth’s valuation will hinge on its ability to expand its bricks-and-mortar presence over the next 12 months given that e-commerce accounts for some 70 percent of its sales, while online accounts for just 5 to 6 percent of spending in the country. The clean beauty brand is hoping to expand to 40,000 retail outlets in 100 cities by 2022’s close.

IN CONVERSATION WITH...

FORMULA FRIDAY

STREET TALK

60 SECOND PITCH

WELLNESS

FASHION

TRAVEL

PROFESSIONAL BEAUTY

TOP 50 BRANDS

JOBS & PEOPLE

EVENTS