Varun Alagh, the CEO and co-founder the skincare company, Mamaearth, likes to think of his brand as an outlier. Just a day after Mamaearth’s parent company went public, on October 31, Alagh told The Economic Times that the company’s IPO was not going to meet the same fate as other new-age startups in the recent past. The public market has been quite hostile lately and investors are especially steering clear of digital companies and startups. But despite this Mamaearth went ahead with its plan and became the first D2C brand to go public. Unfortunately though, its shares have been falling ever since.What happened to Mamaearth is not isolated. It is the beginning of the end of the D2C gold rush.Tune in to hear all about it.Also listen to: Why retail investors showed little interest in Mamaearth's IPOFree Read: 1 to 1000: The high-stakes hunt for India’s next top product designersDaybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

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