.Representative imageBeauty as well as private care company Honasa Consumer-- the parent entity of Mamaearth-- is terminating its own ayurvedic charm company Ayuga.In an earnings discussion on Friday, Honasa Buyer said it might certainly not develop a product-market match and began sunsetting the brand coming from June this year.Following the discontinuation of Ayuga, Honasa Customer will certainly possess six brands in its collection-- Mamaearth, its own most extensive label, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the provider sells colour cosmetics products.Honasa Individual mentioned a 19% year-on-year boost in operating revenue for the April-June time period to Rs 554 crore, while web income rose 62% on year to Rs 40 crore.In the discussion, Honasa pointed out Ayuga was released to offer ayurvedic elegance items in present day styles for Indian millennials back in December 2021. The label was spruced up two years eventually, based upon consumer comments, it added.However, the brand name stopped working to acquire any type of footing despite the improvements. Ayuga was an online only brand.Other new-age brand names in the ayurveda-focused elegance as well as individual treatment room include Optimal XV Partners and also Fireside Ventures-backed Nathabit, Perception Ventures-backed The Ayurveda Company, as well as Tip Ventures-backed Kapiva.Nathabit has actually supposedly crossed an annualised income rate of Rs one hundred crore in FY24, while Kapiva mentioned Rs 114 crore in operating income in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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