.Rep imageBeauty as well as private treatment business Honasa Consumer-- the moms and dad company of Mamaearth-- is stopping its ayurvedic beauty brand name Ayuga.In a profits presentation on Friday, Honasa Customer said it could possibly certainly not create a product-market fit and began sunsetting the company from June this year.Following the ending of Ayuga, Honasa Buyer will definitely have 6 brand names in its own portfolio-- Mamaearth, its own most extensive brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the firm sells colour cosmetics products.Honasa Buyer disclosed a 19% year-on-year increase in operating earnings for the April-June time frame to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was actually introduced to introduce ayurvedic beauty items in modern styles for Indian millennials back in December 2021. The label was actually overhauled two years eventually, based on customer feedback, it added.However, the brand fell short to receive any type of footing despite the modifications. Ayuga was actually an online just brand.Other new-age brands in the ayurveda-focused charm and also individual treatment space include Peak XV Allies and also Fireside Ventures-backed Nathabit, Clairvoyance Ventures-backed The Ayurveda Business, and also Tip Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised profits rate of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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