.Agent imageBeauty and individual care firm Honasa Customer-- the parent entity of Mamaearth-- is ceasing its own ayurvedic appeal brand name Ayuga.In a revenues presentation on Friday, Honasa Consumer said it could possibly certainly not create a product-market match and also started sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely possess 6 labels in its own collection-- Mamaearth, its biggest brand name, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider offers colour cosmetics products.Honasa Consumer stated a 19% year-on-year boost in operating revenue for the April-June duration to Rs 554 crore, while internet income climbed 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was released to present ayurvedic charm products in contemporary styles for Indian millennials back in December 2021. The brand name was revamped two years later on, based on customer comments, it added.However, the company fell short to receive any sort of traction regardless of the modifications. Ayuga was actually an online only brand.Other new-age labels in the ayurveda-focused elegance and personal care area include Optimal XV Allies and also Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Company, and Tip Ventures-backed Kapiva.Nathabit has actually supposedly intercrossed an annualised profits price of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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