.Agent imageBeauty as well as personal care company Honasa Buyer-- the parent facility of Mamaearth-- is ceasing its ayurvedic elegance brand Ayuga.In an incomes presentation on Friday, Honasa Individual said it might not set up a product-market fit and started sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely possess 6 brand names in its collection-- Mamaearth, its own largest company, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, as well as Staze, under which the provider markets colour cosmetics products.Honasa Consumer stated a 19% year-on-year boost in operating earnings for the April-June period to Rs 554 crore, while web earnings increased 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was released to launch ayurvedic appeal products in modern layouts for Indian millennials back in December 2021. The company was renewed 2 years later on, based upon consumer reviews, it added.However, the brand name neglected to get any traction even with the changes. Ayuga was an online only brand.Other new-age brands in the ayurveda-focused elegance and personal treatment room consist of Top XV Allies as well as Fireside Ventures-backed Nathabit, Second Sight Ventures-backed The Ayurveda Firm, and Vertex Ventures-backed Kapiva.Nathabit has actually apparently intercrossed an annualised revenue rate of Rs 100 crore in FY24, while Kapiva stated Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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