.Agent imageBeauty as well as individual care provider Honasa Customer-- the moms and dad body of Mamaearth-- is discontinuing its own ayurvedic charm brand Ayuga.In a revenues presentation on Friday, Honasa Individual claimed it could possibly not establish a product-market fit as well as began sunsetting the company coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely have 6 brand names in its own collection-- Mamaearth, its largest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the business sells colour cosmetics products.Honasa Consumer reported a 19% year-on-year increase in operating revenue for the April-June time period to Rs 554 crore, while internet profit rose 62% on year to Rs 40 crore.In the presentation, Honasa mentioned Ayuga was actually launched to launch ayurvedic elegance products in present day layouts for Indian millennials back in December 2021. The label was actually overhauled two years eventually, based upon customer comments, it added.However, the brand failed to acquire any type of traction even with the improvements. Ayuga was an online only brand.Other new-age companies in the ayurveda-focused beauty and also personal treatment area include Height XV Allies as well as Fireplace Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Firm, and also Tip Ventures-backed Kapiva.Nathabit has supposedly intercrossed an annualised profits cost of Rs 100 crore in FY24, while Kapiva reported Rs 114 crore in operating revenue in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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