.Agent imageBeauty and also personal treatment company Honasa Consumer-- the moms and dad body of Mamaearth-- is ceasing its own ayurvedic elegance brand name Ayuga.In an incomes discussion on Friday, Honasa Customer mentioned it can not establish a product-market match as well as began sunsetting the company coming from June this year.Following the ending of Ayuga, Honasa Individual will definitely have six companies in its collection-- Mamaearth, its most extensive brand name, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the company sells colour cosmetics products.Honasa Individual disclosed a 19% year-on-year boost in operating revenue for the April-June duration to Rs 554 crore, while web profit increased 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was released to introduce ayurvedic charm items in modern-day layouts for Indian millennials back in December 2021. The brand was overhauled pair of years eventually, based on individual feedback, it added.However, the label fell short to acquire any type of traction in spite of the adjustments. Ayuga was an online merely brand.Other new-age brands in the ayurveda-focused appeal and also individual care space include Peak XV Allies and also Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Company, as well as Vertex Ventures-backed Kapiva.Nathabit has actually apparently crossed an annualised revenue fee of Rs 100 crore in FY24, while Kapiva disclosed Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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