.Rep imageBeauty and individual care provider Honasa Buyer-- the parent facility of Mamaearth-- is ceasing its ayurvedic appeal company Ayuga.In an earnings discussion on Friday, Honasa Consumer claimed it can not create a product-market fit and also started sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Buyer will certainly have 6 companies in its profile-- Mamaearth, its own most extensive brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the company offers colour cosmetics products.Honasa Consumer mentioned a 19% year-on-year increase in operating revenue for the April-June duration to Rs 554 crore, while internet earnings climbed 62% on year to Rs 40 crore.In the presentation, Honasa stated Ayuga was actually introduced to introduce ayurvedic beauty products in present day layouts for Indian millennials back in December 2021. The brand was spruced up 2 years eventually, based on individual feedback, it added.However, the brand neglected to receive any sort of traction regardless of the improvements. Ayuga was an online just brand.Other new-age brand names in the ayurveda-focused beauty as well as private treatment area include Height XV Allies and also Fireplace Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Provider, and Vertex Ventures-backed Kapiva.Nathabit has actually reportedly intercrossed an annualised revenue rate of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
Posted On Aug 10, 2024 at 01:18 PM IST.
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