Her journey illustrates the success of modern female entrepreneurship, capable of turning a personal need into a national brand that combines innovation, impact and responsible growth.
Ghazal Alagh, born into India’s upper-middle class, holds a degree in computer science from Punjab University. She later expanded her education with a short program in figurative art at the New York Academy of Art, an experience that enriched her creative sensitivity and strengthened her desire to make a meaningful impact.
In 2012, before founding Mamaearth, she launched Dietexpert, a personalized nutrition platform. Though modest in scope, the project provided her with key insights into user experience, digital marketing and the Direct-to-Consumer (D2C) model. While it didn’t result in commercial success, it served as a crucial learning opportunity, reinforcing the importance of customer listening, positioning clarity and mastery of digital channels.
In 2014, faced with her newborn son’s skin allergies and the lack of certified, non-toxic baby care products in India, Ghazal recognized a market gap. In 2016, she co-founded Mamaearth with her husband Varun Alagh, with a clear mission: to provide natural, safe and transparent personal care products free of harmful ingredients.
Her strategy is based on a strong understanding of her target audience: a young, connected middle class that is mindful of what it consumes. Between 2015 and 2017, the rapid growth of digital services in India reinforced her decision to launch Mamaearth as a D2C brand via Amazon, her own website and social media. Her artistic background enabled her to build a strong brand identity and compelling digital storytelling. From the outset, she leaned heavily on influencer marketing working with a network of committed mothers (“Board of Moms”), bloggers, and celebrities such as Shilpa Shetty, who later became both an investor and brand ambassador.
In 2017, Mamaearth became the first Asian brand to receive the U.S. MadeSafe certification, a seal confirming the absence of toxic substances. This distinction offered scientific credibility and regulatory reassurance, helping the brand stand out in the Indian market. Encouraged by the success of its baby care line, Mamaearth expanded into haircare and skincare products, including offerings for men and pregnant women transforming the company into a family-friendly, accessible natural care brand.
Backed by leading investors like Sequoia Capital India and Fireside Ventures, the company entered a phase of hypergrowth. It structured itself under a parent company, Honasa Consumer and adopted an omnichannel strategy, combining strong digital presence with physical retail distribution. Throughout this expansion, Ghazal ensured the brand’s environmental commitments remained central to its product development.
In October 2023, Honasa Consumer Ltd was listed on the National Stock Exchange of India, raising over $200 M. This milestone marked the success of a digitally native brand built on ethical values and capable of competing with established global leaders. Mamaearth has since become a reference point in India’s entrepreneurial ecosystem and a catalyst for the clean beauty movement across the country.
As a leader, Ghazal Alagh embodies a modern, inspiring management style. She promotes a corporate culture based on accountability, transparency and kindness. Rejecting rigid hierarchies, she encourages initiative and proactive thinking across all levels of the organization. Her leadership philosophy rests on four core values: clarity, discipline, progress and resilience principles that foster both innovation and sustainable growth.
Deeply committed to advancing women’s entrepreneurship in India, she mentors young founders, notably through her role on Shark Tank India. In November 2023, she spoke at Chitkara University in Chandigarh during a talk entitled From Motherhood to Entrepreneurship to IPO, where she shared her personal journey and vision for a more inclusive, sustainable form of capitalism.
Named one of the most influential women in India by Fortune India in 2023, Ghazal Alagh represents a new generation of leaders capable of aligning economic ambition, product innovation and environmental responsibility. Beyond her executive role, she actively supports women-led startups and advocates for increased female representation in private equity and access to funding.
She currently lives in Gurugram, near New Delhi, with her husband Varun and their two sons.
« 90% of my startup portfolio is led by female founders. »
In a few figures :
- Headquartered in Gurugram in India
- Founded in 2016
- 2024 Revenu : $237 M, +8% compared to 2024
- Market capitalization: $1.2 Bn
- +800 employees
- In 2024, the number of consumers is estimated at 9M, and the products are available in 1,000 “Smart Bazaar” stores across India.
Clean beauty sector
The global clean beauty market was valued at approx $8 Bn in 2023 and is expected to reach around $21 Bn by 2030.
In India, the clean beauty market generated approx $253M in 2023 and is projected to reach $690M by 2030, with an annual growth rate of 15.4%.
