.Rep imageBeauty as well as individual care company Honasa Consumer-- the parent company of Mamaearth-- is actually discontinuing its ayurvedic charm brand Ayuga.In an incomes discussion on Friday, Honasa Individual claimed it could possibly certainly not develop a product-market match and began sunsetting the label coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will definitely have 6 brand names in its collection-- Mamaearth, its own largest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm offers colour cosmetics products.Honasa Buyer reported a 19% year-on-year rise in operating revenue for the April-June time frame to Rs 554 crore, while internet profit rose 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was launched to introduce ayurvedic elegance items in contemporary layouts for Indian millennials back in December 2021. The label was spruced up two years later on, based upon consumer comments, it added.However, the brand name stopped working to get any grip despite the changes. Ayuga was an online merely brand.Other new-age brand names in the ayurveda-focused beauty and personal treatment area feature Peak XV Partners and also Fireplace Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Company, as well as Tip Ventures-backed Kapiva.Nathabit has supposedly crossed an annualised income fee of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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