Honasa Consumer Releases its First-Ever Social Impact Report

2024-11-23 12:46:21 Miscellaneous

779

Gurgaon, May 8, 2024: Honasa Consumer Limited, Indias leading beauty and personal care company with a diverse portfolio of purpose-driven brands, announces the launch of its first impact report, Driven By Purpose, assessed by Aspire Impact Ratings Pvt. Ltd., highlighting the impact of their social and environment efforts while showcasing a responsibly governed organization. Aligned with its overarching commitment to enriching both consumers and communities, the company embarks on a mission to foster a sustainable future through environmentally conscious practices and socially impactful initiatives seamlessly integrated into the ethos of its brands.

The report details the significant impacts of various purpose-driven initiatives, assessing their contributions to economic development, environmental stewardship, and community empowerment. These efforts have catalyzed positive change across India, reaching 14 states and 2 Union Territories, and promoting sustainable growth and transformative societal benefits.

Starting with the first brand, Mamaearths Plant Goodness initiative, which is dedicated to afforestation and supporting farmer livelihoods. In collaboration with Sankalptaru Foundation, Honasa planted 5 lakh trees and empowered 581 farmers with livelihood opportunities. This initiative not only encourages sustainable agricultural practices but also anticipates a significant yield of over 10,000 tons of fruit annually, generating a potential revenue of more than INR 20 crore. Additionally, the initiative has led to substantial environmental benefits, including the sequestration of 250,000 tons of carbon and the production of 500,000 tons of oxygen each year, while greening 3,500 acres of land.

Additionally Mamaearth has a Plastic Positive initiative, through which the brand has recycled 8311 Metric tonnes of plastic.

Through the initiative under The Derma Co, the company aimed at empowering underprivileged children through The Young Scientist Program. This initiative, executed in collaboration with Bhumi NGO, focuses on providing high-quality, practical science education. With 456 hours of uniquely designed activity modules delivered in 76 schools, the program has engaged over 10,000 children in hands-on scientific learning. This immersive approach has notably resulted in a 42% increase in their science assessment scores, highlighting the impactful nature of practical education.

The third brand Aqualogica addresses a critical challenge through its Fresh Water for All initiative, aiming to make clean, safe drinking water accessible in remote areas where it remains a luxury. In many marginalized communities, women are forced to walk several kilometers daily just to fetch drinking water. To combat this issue, Aqualogica's Fresh Water for All mission, in collaboration with the Watershed Organisation Trust, has installed water tanks in four villages. This strategic initiative now provides 496 households with easy access to clean and safe drinking water, saving them over 400 collective hours each day that were once spent on fetching water. These hours are now being redirected towards productive activities such as earning income, childcare, and household chores, thereby significantly improving the overall livelihoods of these communities.

Bblunt, in collaboration with the Sambhav Foundation, has launched The Bblunt Shine Academy, a transformative initiative that has empowered over 10,000 women across 11 states by offering training and certification in hair styling. Designed to promote skill development and financial independence, the initiative provides both online and offline courses. These courses are delivered by 12 master trainers across 240 batches, accumulating a total of 6,000 hours of training. This comprehensive approach equips participants with professional skills, opening up avenues for employment and self-sufficiency.

Speaking on the report launch, Varun Alagh, Cofounder and CEO, Honasa Consumer Limited commented, We crafted Honasa with a vision to go beyond products and strived to create a greater impact on the lives our our consumers and the society at large. Within our diverse portfolio of purpose driven "Me & We" brands, each element embodies a commitment to our consumers, our communities, and our planet. The release of our first impact report marks the beginning of a new chapter in the Honasa story. We combine purpose with passion, endeavoring to create beauty that extends well beyond the superficial. Our aim is not merely to address challenges but to make a lasting impression on the lives we touch, ensuring our brands are celebrated not just for their products, but for the depth and reach of their impact.

These initiatives are a testament to Honasas deep-rooted commitment to building a better tomorrow for everyone. With trust, transparency, and sustainability as key pillars, Honasa is trying to make a difference in people's lives across India, ensuring a brighter and more sustainable future for generations to come.

ABOUT HONASA CONSUMER LTD

Honasa Consumer Limited (HCL), is a purpose-driven house of brands with a digital-first approach creating the beauty and personal care organisation of the future. Built on a consumer-insights led innovation and channel approach, the company has built an inhouse portfolio of digital-first consumer brands like Mamaearth, The Derma Co., Aqualogica, Ayuga and Staze. Apart from the owned brand, they have acquired stakes in BBlunt and Dr. Sheths. HCL has become a profitable and the largest beauty and personal care company in India in terms of revenue from operations for the Financial Year 2022 in 7 years of inception. Through their online channel, they serviced over 18,000 pin-codes in India, during the six months period ended September 30, 2022. Through their omni-channel distribution network across online and offline channels, they have been able to make their products available pan-India across 700+ districts in India, during the six months period ended September 30, 2022. In the same period, they are estimated to have retailed products through more than 100,000 FMCG retail outlets in India.