.Representative imageBeauty and also individual care firm Honasa Consumer-- the moms and dad facility of Mamaearth-- is actually stopping its ayurvedic beauty brand name Ayuga.In an incomes discussion on Friday, Honasa Customer mentioned it can not establish a product-market fit and started sunsetting the brand name coming from June this year.Following the discontinuation of Ayuga, Honasa Consumer are going to possess six companies in its collection-- Mamaearth, its largest brand, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business sells colour cosmetics products.Honasa Customer stated a 19% year-on-year increase in operating revenue for the April-June period to Rs 554 crore, while web revenue increased 62% on year to Rs 40 crore.In the discussion, Honasa mentioned Ayuga was actually introduced to present ayurvedic beauty items in modern-day styles for Indian millennials back in December 2021. The company was revamped pair of years later on, based on customer responses, it added.However, the company failed to get any type of traction despite the adjustments. Ayuga was an online merely brand.Other new-age brand names in the ayurveda-focused charm and also private care room consist of Top XV Allies as well as Fireplace Ventures-backed Nathabit, Intuition Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has apparently intercrossed an annualised profits cost of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Released On Aug 10, 2024 at 01:18 PM IST.
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