.Rep imageBeauty and also private treatment company Honasa Consumer-- the parent body of Mamaearth-- is actually ceasing its ayurvedic beauty brand name Ayuga.In an incomes discussion on Friday, Honasa Buyer stated it could not establish a product-market fit as well as began sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will possess 6 labels in its own portfolio-- Mamaearth, its own most extensive company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business offers colour cosmetics products.Honasa Individual stated a 19% year-on-year rise in operating revenue for the April-June period to Rs 554 crore, while web profit increased 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was released to present ayurvedic elegance products in modern layouts for Indian millennials back in December 2021. The brand was spruced up 2 years eventually, based on customer responses, it added.However, the brand name fell short to get any kind of grip regardless of the modifications. Ayuga was an online simply brand.Other new-age companies in the ayurveda-focused appeal as well as personal treatment room feature Height XV Partners as well as Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Company, and also Vertex Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised income fee of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating profits in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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