Honasa Consumer, the parent company of Mamaearth, has promoted Karan Bajwa to Chief Human Resources Officer and Avinash Dhagat to Chief Supply Chain Officer, the company announced via a press release.
Commenting on the leadership changes, Varun Alagh, Co-founder and CEO of Honasa Consumer, said, “Karan and Avinash have been pivotal in driving Honasa’s growth journey. As we redefine the brand landscape in India and shape the future of beauty and personal care brands, their leadership will be key to building an agile, purpose-driven, and innovation-focused organization.”
Bajwa, who has been with Honasa for over four years, was previously serving as Senior Vice President – Human Resources. Prior to joining Honasa, he was associated with Airtel.
Dhagat, who steps into the Chief Supply Chain Officer role, has also spent close to four years at Honasa. Before joining the company, he spent over a decade at L’Oréal, eventually leading supply chain operations for its consumer division.
Honasa Consumer, which owns brands such as Aqualogica, BBlunt, Dr Sheth’s, and The Derma Co, recently posted a 5.9% increase in operating revenue, reaching ₹517.5 crore. Although the company’s net profit remained largely stable compared to the previous year, it marked a significant recovery from the loss reported in the second quarter, following expenses related to an inventory correction initiative. The company is yet to announce its full-year and fourth-quarter financial results.
Earlier this month, Honasa also revealed the grant of 24.16 lakh stock options under its ESOP 2028 plan, with a total value of approximately ₹57 crore.