.Rep imageBeauty and also individual treatment company Honasa Buyer-- the parent facility of Mamaearth-- is terminating its own ayurvedic charm brand Ayuga.In a revenues presentation on Friday, Honasa Individual stated it might certainly not establish a product-market match as well as started sunsetting the label from June this year.Following the discontinuation of Ayuga, Honasa Buyer will definitely possess six brand names in its own portfolio-- Mamaearth, its largest company, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and also Staze, under which the business sells colour cosmetics products.Honasa Consumer reported a 19% year-on-year rise in operating earnings for the April-June period to Rs 554 crore, while web income climbed 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was introduced to introduce ayurvedic charm items in present day layouts for Indian millennials back in December 2021. The brand name was overhauled 2 years later on, based upon buyer feedback, it added.However, the company failed to acquire any kind of traction despite the changes. Ayuga was actually an online only brand.Other new-age labels in the ayurveda-focused beauty and personal care area consist of Optimal XV Allies and also Fireplace Ventures-backed Nathabit, Intuitiveness Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised revenue fee of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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