Honasa Consumer, Mamaearth's parent company, has seen its market capitalization halve in just two months, eroding ₹7,500 crore.
From trading at ₹541 per share in September 2024, the stock plunged to ₹227 in November, reducing its market cap from ₹15,000 crore to ₹7,300 crore. This drop also cost Mamaearth its unicorn status, as its valuation slipped below $1 billion.Concerns over unsold inventory and rising competition in the D2C beauty space further contributed to the downturn. Mamaearth now faces the challenge of restoring investor and consumer confidence.