.Representative imageBeauty and private treatment business Honasa Consumer-- the parent company of Mamaearth-- is ceasing its ayurvedic charm label Ayuga.In an earnings presentation on Friday, Honasa Individual said it can certainly not establish a product-market fit and also began sunsetting the company from June this year.Following the ending of Ayuga, Honasa Buyer are going to have six brands in its own profile-- Mamaearth, its own biggest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider markets colour cosmetics products.Honasa Customer mentioned a 19% year-on-year rise in operating revenue for the April-June duration to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the discussion, Honasa stated Ayuga was actually introduced to launch ayurvedic appeal products in present day formats for Indian millennials back in December 2021. The label was revamped two years later, based upon individual reviews, it added.However, the brand name fell short to obtain any type of footing in spite of the adjustments. Ayuga was an online simply brand.Other new-age brand names in the ayurveda-focused charm and also individual care space include Optimal XV Allies and also Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Company, as well as Tip Ventures-backed Kapiva.Nathabit has apparently crossed an annualised profits price of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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