.Representative imageBeauty and individual care firm Honasa Consumer-- the parent body of Mamaearth-- is actually stopping its own ayurvedic appeal brand Ayuga.In a revenues discussion on Friday, Honasa Buyer said it could possibly certainly not create a product-market fit and began sunsetting the brand from June this year.Following the discontinuation of Ayuga, Honasa Individual will definitely have 6 companies in its own portfolio-- Mamaearth, its own biggest label, The Derma Carbon Monoxide, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the business markets colour cosmetics products.Honasa Individual mentioned a 19% year-on-year increase in operating earnings for the April-June duration to Rs 554 crore, while internet revenue rose 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was released to introduce ayurvedic charm products in modern-day formats for Indian millennials back in December 2021. The company was actually remodelled pair of years later, based on buyer responses, it added.However, the label failed to receive any sort of traction regardless of the adjustments. Ayuga was an online simply brand.Other new-age labels in the ayurveda-focused beauty as well as individual treatment space feature Top XV Partners as well as Fireside Ventures-backed Nathabit, Instinct Ventures-backed The Ayurveda Business, as well as Vertex Ventures-backed Kapiva.Nathabit has actually reportedly crossed an annualised revenue price of Rs one hundred crore in FY24, while Kapiva stated Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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