.Agent imageBeauty and also individual treatment company Honasa Buyer-- the moms and dad company of Mamaearth-- is discontinuing its own ayurvedic elegance brand name Ayuga.In a profits discussion on Friday, Honasa Individual mentioned it could possibly certainly not set up a product-market fit as well as began sunsetting the label from June this year.Following the ending of Ayuga, Honasa Consumer will definitely have 6 labels in its portfolio-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the firm offers colour cosmetics products.Honasa Buyer mentioned a 19% year-on-year rise in operating revenue for the April-June duration to Rs 554 crore, while web earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa said Ayuga was actually introduced to present ayurvedic charm items in modern layouts for Indian millennials back in December 2021. The label was actually overhauled two years later on, based upon buyer comments, it added.However, the brand name fell short to acquire any kind of footing despite the changes. Ayuga was actually an online simply brand.Other new-age companies in the ayurveda-focused charm and personal care area consist of Peak XV Partners and Fireplace Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has reportedly intercrossed an annualised income rate of Rs 100 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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